Member Info for mcmullank

I see the market has moved substantially against GRL with a 15% drop on opening without any trades. Since then there have been two sales comprising a total of 18k shares. Madness.

It is good to see the parliamentary petition system being used in this way! Perhaps remove the spelling mistakes from the petition and make it sound a little less like a moan and have more factual content. For a start, how would you like to see these trades recorded? If the MM has an outstanding order and I decide to sell my shares, is this a buy or a sell?

It is a mistake. You can verify this by looking at the RNS and also comparing percentages by shares in issue. 3.4% or 2.1m shares does not work when there are >400m shares in issue (as is the case with Metal Tiger).

I have advised my broker to reject the offer. Only 8000 ish shares but I have already written these off.

Very little shares traded for the last few weeks and along comes today and 2m traded by lunchtime. ????

An all too familiar look to the SP chart!

Well done to all those NOT invested here........ Is that positive enough?

That's a laugh, convenient how history can be swept aside and ignored.

Clazas 6p would be better for the holders that were here prior to the last suspension!!!! Might just about break even.

Hey don't shoot the messenger. You posted the figures, I called you out and asked you produce some evidence to back up your claims that is all. Your post below lets everyone know where the calculations come from and they are free to take this in context of the original post that I questioned. If/when GRL sell these assets we will see the value placed on them but I think if we get offered between 7 and 8 million pounds the board will accept this. GL and enjoy your week away.

Sorry, I let you away with the last post as I really couldn't be bothered picking you up on the mis-information. Your maths do not stack up (ignoring the fact that you are using the wrong numbers, see later in post) 602,000 * $50 = $30m (£18.2m) Show me a prospect that has such little resources yet sold for this amount since the downturn in the Au price in May. Now to correct your numbers - GRL do not have 100% interest in Homase. Currently the resources that are owned by GRL would be nearer 460,000. So your 400% minimum is wrong. The price of the shares at the earlier this week was less than 1.5p so your 11% downside is wrong. As I stated in an earlier post I am invested here and want to see this company moving forward and the SP reflecting the value of the underlying resources but this is a long term prospect and I would much rather be seeing a steady increase in market value than a rapid rise followed by a rapid downturn.

So based on hope? "There have been discussions with a number of parties, some of which are ongoing, but there can be no guarantee at this stage that a satisfactory sale will be achieved." This doesn't appear to suggest that there are companies clamouring all over GRL for these assets. If anything, this tells you that some of the companies that approached have turned it down.

£20m based on what valuation metrics?

EssexMafia If I could remember my iii account details I would correspond on there. In regards to your share purchase, I don't doubt that you trust your information. The problem I have with this number is that I have seen producing mines with similar resources being sold for a fraction of this amount. i.e. The last disposal by POG was a $6m profit mine producing 50k ounces and sold for $30m equivalent. I hope that you are correct as I am invested here but I wouldn't expect more than $10m for the disposal.

£33m I am trying really hard not to laugh at this but it is so beyond the realms of reasonableness that I just have to.

WOW SKR you really do surprise me......not!

More to the point is WTF were the auditors doing?

With no accounts published. Anyone surprised????? Incompetance reigns supreme here.

IF THE RESOLUTIONS ARE NOT PASSED OR IF THE SCHEME OF ARRANGEMENT DOES NOT RECEIVE THE APPROVAL OF THE SCHEME CREDITORS AND THE COURT THEN THE COMPANY MAY BE WOUND UP SAVE IN THE EVENT OF AN OFFER BEING RECEIVED. CERTAIN PARTS OF THE GROUP WILL BE UNLIKELY TO BE IN A POSITION TO MEET THEIR LIABILITIES AS THEY FALL DUE, FORCING THE DIRECTORS TO EITHER PLACE ASSETCO PLC INTO ADMINISTRATION, SELL IT ON LESS FAVOURABLE TERMS OR RESULT IN THE COMPANY BEING WOUND UP BY THE COURT. IN SUCH CIRCUMSTANCES, IT IS NOT EXPECTED THAT THE SHAREHOLDERS WOULD RECEIVE MORE THAN NOMINAL VALUE FOR THEIR CURRENT SHAREHOLDING. And the alternative if accepting the proposals is that the shareholders get the equivalent of .2p per share (nominal in my book)

pre-pack. Would have had near identical outcome for the owners of the business. i.e. US.