Member Info for mcmullank

Well it's been a month since the last RNS and no update since. Typical of the GRL board and I expect we'll get an RNS on the last trading day before Christmas or the end of the year telling everyone that the company has defaulted and will be taken over by the creditors.

It makes all those that stood behind the board continually telling everyone to trust them look rather foolish. I notice the guy that had seemingly invested in millions of shares hasn't been back here for a while. I hope he is OK or was lying about his investment as there is no future here.

Better luck with any other investments that you have.

This is a joke post surely? The company has delivered nothing with many broken promises along the way. I have been invested here for over a decade and the last few years have been the epitome of failure.

@1invest

I have been invested in this company for far longer than the current BoD. They come, they go and I am sure that this one will be going.

@BilkosBuddy

If you don't want to read then that's fine. Skip past the posts, I'll not be selling up and moving on but I will be vocal in my dis-approval of the management of the company. There have been far too many mistakes made and anyone defending or excusing the gross mis-management that has happened under the watch of the current board is the same type of fool that will continue to watch their investment fall whilst the company announce further increases to the cost base and reductions in production because "reasons". A change at the top is needed.

The company have produced a total of 1493 oz in nearly six months. You would have to believe in miracles if you think that production this year will be anywhere near 14,000 oz.

Or alternatively it is time for the management team to move on. Absolute shambles.

@gazshot

No problem. I would also like something to cheer about but feel that it may be a long way off. I am not sure how the main investors here feel in regards to the board but I am sure that they will be looking at these numerous issues and also questioning their competence.

It looks like you are incapable of reading. I never once stated that people would have to face up to losses. What I did do was point out the absurdity of some of the speculation on here. I even went as far as to say that I believed the theft hypothesis was a more likely reason for the suspension than the warrants.
I have been vindicated on that.

I guess this also now makes it 8001ntines you have rolled back on your promises ;-)

Now where was that poster that was calling me a Muppet hiding?

Well I wonder what took the company so long to reveal they had lost the 350k of gold? It would suggest to me that they didn't know if the theft was material or not.
Another instance when you question the communications from the company.
The "short term disruption", the lack of commitment to the previously announced reduction in output and the increased security costs will be the next excuse for why we are not performing in line with previous announcements. Bookmark it.
For all the (alleged) experience on the board, they are making some very basic mistakes.

Happy retirement DJ!

DJ rather hypocritical to ask me if I know something for sure when you post this "So now we see why they had to suspend the shares because they were sat on market sensitive stuff". As For you retiring if you are wrong, that'll be at least the 8,000 time you have stated that you are leaving.
Why would the company announce the issue of warrants, make no reference in their statement to the suspension and not at least issue another RNS stating that owing the previous RNS and the disclosure of the extension, trading in the shares will commence on xxx date?
I think you were probably more accurate with you theft hypnosis.
Gazshot - call me a.muppet all you want but it doesn't change the facts. Not does wishful thinking.

These warrants are not what is behind the suspension or it would have been lifted today with the announcement.

The mine may be operating normally but we have no idea of recovery rates or extraction costs. Ghana has seen inflation hit 27% and we have already been told that costs were increasing when inflation was half that.

If we know where the company is at, the let me know:
a) How many tonnes of ore we have processed
b) at what recovery rate
c) at what cost
d) how many Oz we have sold and at what price.
e) how much of our gold loan have we paid back
f) how much cash has the company and what is their expected cash flow.

Until these can be answered then, no we don't know where the company is at.

You don't know what "position the company is in". There has been no operational update, no trading update nor do we know what the current cash position is. It is always jam tomorrow on this board.

Not sure if your post was entirely serious @bearlittle?

"The longer the suspension lasts the better in my opinion."

If you are being serious, this must be right up there in the siiest things posted in investment history.

Anyway, it has been a week now with absolutely nothing heard from the company. Anyone that isn't nervous about what is happening here is either lying or doesn't understand why suspensions happen.

At least I am consistent in my pessimism in the company leadership. Your 360s on here happen quicker than a professional figure skater.

I seriously doubt that a suspension due to operational issues is going to be positive for the company.

Two years ago, it was all optimism - we are nearly a producer, 50k of gold per annum $600 of extraction costs etc. etc.
Last year is was it'll take time to sort out the process.
We are now a maybe 20k per annum company, rising costs ($1000) with no visibility on revenue.
I like many are sitting here with 10s thousands of money tied up in an untradeable stock.
Anyone that can see the positives in this can contact me for some Northern Rock shares I bought on eBay.

Some of the posts on here are pure fantasy land. Has anyone looked at the reasons why shares on AIM can be suspended?
M & A is not an operational issue. Companies do not suspend their shares due to minor setbacks. This is something that will have a significant impact on the company.

Normally with a takeover there is a suspension first thing in the morning. The fact that this actually traded today an the suspension came at 10:06 is not a good sign. It certainly doesn't indicate that there was a plan to suspend the shares pending the announcement.

On target for which production target? 50k, 30k, 18k. It moves so often and usually downward that I don't take much notice of targets and would rather see the actual production numbers.

@jrogers
If you have been reading my posts since 1988 then you would know.

How about you comment on the substance of the post rather than the poster.

What parts of the RNS have improved the outlook of this company over where they were last year? Do you see no issue with a company that releases and RNS stating that production is reducing again and costs are increasing. Even the interview with Emma where she stated the increasing fuel costs is deflection from the real reasons that they are not producing at $600 per Oz.

Yet again we have an announcement that has reduced expected production figures without any reference to the previous guidance issued just in January. We have went from 50,000 oz of annual production to 25,000 in January to 20,000 March and possibly 18,500 and nobody even raises any eyebrow.

Production down 60%, costs up 60%, recovery rates still below expectation. We have mined 409 oz of gold in 6 weeks, four hundred and nine oz in a period that the company originally stated would be generating over 3000 oz per month.

There is plenty to hold back the value of this company.