Member Info for mcmullank

Is it Friday afternoon yet?

A 52-week high, not an all-time high.

Was that comment directed to me? If so I am on planet earth. This is a delayed sell from Friday and follows the same pattern of sells at the close that has been taking place for the last few weeks.

that is a sell not a buy.

Am I missing something here? The RNS state Q3 for first pour. We are currently in Q3 and therefore we are already expecting it this quarter. No?

"on-track" would indicate that they are still confident of meeting their original production as announced in the 13th May RNS. This provided month by month production until December equating to the 25,000. This has now morphed into 8 months production. This is yet more slippage on production by any interpretation.

Our production is going to start in Q3 with 25k Oz in the first 8 months of production. As I stated we are no longer looking at the 25k Oz this year.
Hopefully we will be realising cash in the next six weeks as we are in default on our loan (paying default rates) and have been given until the 31st August. Not really seeing any positives here in production or cash flow basis.
The continued uptake of shares by the main shareholders is the only positive that I could see in the RNS. We have fallen behind our production plan as stated only two months ago.

It's been obvious for weeks now that someone is dumping a large quantity of stock over a prolonged period. With no news, there is no reason for anyone to be buying. Result is there for everyone to see.
I think the current predicted production of 25k this year is now pie in the sky given that this was based on 8 months of production with 7,000oz due by now.

Which of this activities has been delivered on-time so far?
Don't get me wrong progress has been made but if recent events have shown us anything it is that putting timescales or even relying on the timescales provided by the company is futile.

Sell.

Hopefully hear something on this shortly as it has expired as of yesterday.

Looks like the reason the Nomad forced the release of the information was due to the company not needing a few days, not even a few weeks but substantially longer to convey their new intentions. For anyone that thinks this is a positive, I have a bridge to sell you.

There will need to be further discussions regarding interest on loans and working capital as it is quite clear that there will be no income before the June interest payment is due.

A much as I hope you are correct, history would indicate that it is unlikely to be tomorrow. If it is then it will be the first self-imposed deadline that GRL have made since Emma took the helm.

I got it wrong "again"? If you were referring to RedTrader then why did you respond to the post by Mavern?

I think you probably need to work out how threads work.

Apologies for the double post, the first one was delayed.

Still no word from Emma though. Hopefully we get details soon of a production schedule and full details on how much has been drawn down from the 2000 oz of the Gold Loan agreement and allow some visibility on cash flow.

Interested to know the difference between posting
"Nice move up again somethings happening very soon by the looks of it" and "Still very difficult to buy any quantity, as was most of yesterday. Hopefully positive news afoot". A large wiff of irony when posting the former whilst telling the poster of the latter that their post is "pointless"

Absolutely no hint of irony in posting

"Nice move up again somethings happening very soon by the looks of it"

Whilst telling someone that their post of
"Still very difficult to buy any quantity, as was most of yesterday. Hopefully positive news afoot"
is pointless.

That may be the case regarding production but since we have already sold gold prior to production then surely the sooner the stuff is produced and sold the less cash requirements on the business. I don't like the un-certainty of gold within 2 months to now having a new production schedule being worked on.

Looks like another missed deadline from the Board. In her interview she stated that she would have rather waited a couple of days. Well we are three days now with no further information,

Also, anyone that thinks that the gold price is swaying production is either being incredibly silly or genuinely has no idea how important cash is to a business. It's like turning round and saying the Exxon should stop all oil prodution as the oil price is rising!!

Given how advanced we are and with being so close to production you would have thought that more traditional financing would be available. Deferring interest on a loan that is bearing 17% + compensation for deferral, it does beg the question of what alternatives the company has investigated. I have no issue with AIMS taking up their warrants that they were issued when we were without the necessary permits to mine but now it makes no sense to keep the AIMS financing in place at quite exhorbitant cost.