Member Info for panda1

The selling from Humber is likely over now following the RNS. Sellers usually wait until they have sold the desired amount of shares before releasing a TR1

We've had several positive test results RNSs for KP Keftil with respect to coffee but that didn't lead to increased sales.
Are we really expecting things to be any different this time?

PF is obviously going to put a positive spin on it and pay for a research report etc. but this level of dilution is a massive failure and more should have been done to cut costs over the years like fees and salaries paid to the Fowler clan

Obone - Administrative expenses are around £5million per annum. I think directors/management should make salary sacrifices to conserve cash but it doesn't look like they will :-(

After the placing expenses and redemption of loan notes around £1.9 million will be available to WSG minus any short term creditors that need to be paid off

I thought you bought 150,000 shares recently at just over 6p?

With so many new shares and warrants being issued I'm surprised some people are willing to buy at a premium to the 4p placing price

YA granted 3,499,222 warrants at 5.2 pence!

Looks like you got the answer - 4p (with 7p warrants)

The share price has already been battered and is around 30% lower than the high reached in the summer. There is much to look forward to next year with progress on 2 large projects as well as the operating mine

I'm not too surprised that HUM will miss guidance due to challenges caused by Covid, the border closure following the coup and an exceptionally rainy season. I think it's already priced in as the share price is very low compared to other gold producers. The gold at Yanfolila isn't going anywhere and the company is almost debt free. I'm already looking ahead to next year which should see progress on a second mine and a large increase in resource/mine life at Yanfolila. I see this as a bump in the road and will add to my position if the MMs drop the share price.

From the RNS, I see Stuart Packwood has increased his stake to 28,250,000 shares from 27,750,000 shares last time. The percentage he holds has fallen because of dilution due to new shares issued in the recent placing. He's holding a very large stake so must be very confident!

The company could be in for a big cash windfall if the JV partner goes ahead with the transaction:
"Sale of Bolnisi Copper and Gold Project

As announced on 11 November 2020, the final condition for closing of the transaction is the waiving of a right-of-first-refusal ('ROFR') in favour of Empire's Georgian partners, Caucasian Mining Group ('CMG'). CMG have indicated a potential interest in exercising the ROFR, however, the Company is in the process of clarifying a number of aspects related to a possible transaction with CMG and will provide further updates in due course."

I think there is the potential for huge upside from the new licences in Cameroon. The total area of 3500km2 is enormous and could potentially contain a whole district of several gold mines. I'm hoping we'll get further news on them shortly now Tim is going to be in country from Monday.

Strange how the competitor's performance has been consistently unaffected by the Covid situation, in contrast to HMI, yet it is based in the same region of Brazil . It reported a large increase in Q3 sales and and revised guidance for 2020 sales upwards whilst HMI reported disappointing sales and lowered guidance for 2020 sales. Can the staggering difference in performance between the two companies be explained by a better product or better management, or both?

I've done the comparison. You must be a rookie if you can't see the difference between Bushranger and the licences picked up by ORCP, POW and RRR

There's certainly lots of value tied up in the non-core assets!

No, I have just seen Lenigas pumping Wishbone very hard on twitter. I've not been invested in any of his company's before but I know about his reputation for lining his pockets with PI money. He's the one that sold the asset to Wishbone which some people don't seem to be aware of.

Yes, just read the post on the GGP board:
"WSBN - Lenigas..... shudders...... nearology ramps..... empties kitties........ raises funds for “drilling”...... finds nothing but puts positive spin on it “we almost hit it” he will say..... raises more funds..... repeats for 2-3 years while milking the books for a big fat pay check..... company starts faling into debt......company delists or is diluted 99% making shareholders money worthless.

I can see it happen, before it happens, because ive watched him do it multiple times already, UKOG I sold at 7p, he (and SS) destroyed. RRR he was involved and ramped, i sold at 8p, now decimated, LGO.... say no more...... RGM..... that cannabis **** show.... the list goes on and on and on. While all the time, milking, milking.

You know what i learned in the 15 years ive traded AIM, never ever trust a fat man in a suit, it means he’s eating too well.

If u got into WSBN today..... well you’ll be averaging down in a jiffy!"

I would take anything Mr Lenigas says with a pinch of salt. He is most likely trying to entice people to buy shares as he needs the liquidity to sell his large position and pump up the share price to convert his warrants.
"Wishbone has signed an exclusive 45 day option to acquire the Patersons Range Project and has agreed to pay the vendors an option payment £50,000. Wishbone has already commenced due diligence on the projects and will complete this during the 45-day option period. Assuming that Wishbone proceeds to acquire the projects, Wishbone will issue the vendors (being Peter Romeo Gianni, Geonomics Australia Pty Ltd and David Anthony Lenigas) an additional £183,333 in cash, issue 11,111,111 new ordinary shares (Acquisition Shares) at a deemed issue price of 3.3p equating to £366,667 in aggregate and 5,555,555 warrants (Acquisition Warrants) to subscribe for one new ordinary share in the capital of the Company. The Acquisition Warrants will be exercisable for a period of 24 months from admission of the Acquisition Shares at the price of 3.3 pence per ordinary share."