Member Info for Manlord

The PM is in the US on business until next week.

If anyone has sent a letter to him or the Minister of Economy which i strongly suggest you do they are likely to reply in the coming weeks.

ML

Hi All,

For those interested I can confirm many GEO holders including myself are currently sending letters of request, complaint, information and general dismay as to the permit debacle.

I suggest that others here do the same and outline your own personal thoughts and the current losses you are suffering (£100k down to £10k like previous example). The PM and Govt need to be made aware of the level of discontent from as many shareholders as possible. The “threat” of negative exposure via mining / mineral media channels should get them to act. A loss of inward investment is not something they want.

http://gov.ge/index.php?lang_id=ENG&sec_id=378

The suggestion is to write a letter (word / pdf) and attach it to the autofill template.

If you do care about your money then please take 5 - 10 minutes to make contact. At best estimate there are at least 25 letters going already.

ML

@Spotty - Do you get a kick off others getting rinsed of their hard earned?

How exactly can I sort this mess out then? I can only go on what the RNS’s say and what the CEO says. I have a serious issue with the term and understanding of “imminent” because what I think it means and what GEO think it means differ greatly.

I have very little in the way of positives and to be honest I’m just like everyone else here wondering WTF is going on.

I know of 3 other people who like me are nursing serious losses at the moment so it’s certainly not a day to gloat or play the market wisdom card given hindsight is wonderful yet also impossible to possess when most needed.

One positive is at least I can cry into my sangria rather than a cup of tea.

ML

Earthling

I know no more than anyone here. You can’t really be suggesting my educated opinion on this issue being down to our JV partner is not shared by yourself or others here? It’s fairly obvious no? Maybe I’m wrong.

Yes I think the comms could and should be better but there is no chance whatsoever that the permit has been definitively rejected. Absolutely not as the damage for inward mining investment would be huge.

It’s a sit & wait game but a very frustrating one I agree.

Off on holidays so switching off for 2 weeks. Who knows maybe news drops and we get a summer surprise.

ML

Thanks Dave T1.

I hear you Artyth................If it helps I'll communicate this view to mike and let him decide what's best for the company / SP & shareholders.

Thanks.

This is NOTHING to do with GEO.

The new BoD have had absolutely no chance to drive activity or shareholder value due to the hold up which relates to our partner. It's not that difficult to read between the lines here folks and whilst I'm down a significant amount and frustrated like you all are I'm not that naive to think this lies solely at the feet of the BoD. These external factors are a PITA no doubt but what can the BoD do if the issue doesn't relate to their company directly?

Mike, Laurie & Neil are all working hard behind the scenes but it is out of their overall control I can assure you.

Can I ask a question to all who read the GEO forum:

If you were running GEO would you update the market with a current status of everything now even if it confirmed that the permit was still outstanding and could months away (playing devils advocate here).

or

would wait until news of the permit lands to update on that and all other company news over that period?

I'm trying to balance the pros & cons of both of which there are many.

Communication is key of course but just want to gauge opinion.

ML

The BoD are well aware that funding requirements should be done well after permit news and company updates have been given a chance to affect the SP. Current cash burn is almost nil so this is not an issue however it does need attention or it could become an issue.

Our latest RNS referencing company holdings is a sure fire sign that said investor has is confident a raise will not be needed anytime soon. That's my reading of course but I have no hard facts to support.

ML

no I don't expect 500% on permit news however I do expect 500%+ from 3p area given time and right market conditions. The current MCap is simply ridiculous.

Sorry for any misunderstanding.

ML.

I have my entire holding and to date have not sold a single share.

I was accumulating at higher prices than this and one would of course be tempted by the current price however there does come a point where I have to admit I have my limits of exposure and at the moment I'm at that limit.

This will easily do 500% if and when the permit lands and any other items the company have certainly been working on during the downtime. I'm still expecting a serious return here but I really can't come out and be openly bullish as I'll just create open criticism and become an easy target for those that can simply point to the SP performance over the last year. I have my opinions and my beliefs backed up with regular communication with the BoD and for now that's good enough for me.

Good Luck with your investment.

ML

Mike said he'd be updating shareholders via podcast with Neil O'Brien as soon as he can.

That will hopefully be with permit news and / or other company updates. Ideally they want to be able to confirm permit approval but if that's not confirmed soon then a general update will be required.

Sitting here waiting patiently as always - less than 90 days away from 1 year with downed tools.

Hope you're all well.

ML

I'm well rested now mate :-)

ML

but I'm still here just waiting like the rest of us......................................................................................................................

ML

"Never thought" sorry.

ML

Didn't get sub 5p unfortunately mate - I never seem to catch the bottom perfectly :-)

Took a load at 10p, 7p and high 5's recently.

All adds up but we need an definitive update ASAP. June 2018 was when we first heard about the permit issue. never thoughts we'd still be here in Feb 2019.

When exactly does patience run out?

ML

Cash-burn was reviewed post delay and reviewed again with our partner prior to closing 2018 & is as lean and thin as you can imagine.

Cash position is therefore reasonable however of course it can’t go on foreve but absolutely fine for now.

Placing will not be needed as you suggest.

ML

May it bring health & wealth to you all.

No news here then I see.

I would say it's coming soon but sure I'm saying that July and don't want to start a war on the BB :-)

ML

GG it's only what I've been saying for months.

People need to realise that work doesn't just stop completely upon delays in other areas of the business. The directors will update us on solid, confirmed news just as soon as they have any.

If nothing has changed from the last time they RNS'd then what can they RNS today? Exactly!!!!!!!!

Patience is required and tbh the directors must be as frustrated with this delay as we are - if not more because they have a pretty good idea of the next company steps and what they plan to do.

All in good time

ML

Expect it sooner than that! The elections are over!

ML

It should also be noted that directors do not purchase shares like they have here if there was any chance of a placing so to reiterate my point - we have such a low cash burn rate currently, we have plenty of cash to do what we are doing in the background whilst we wait on the incoming permits and once they land we are off.

Filter the noise and stick to the basics. Yes it’s been frustrating but we’re not far away. This BoD will deliver.

Well done mike & Co.

ML

Didn’t have to wait too long eh :-)

ML