Member Info for shamI89

Problem is, I have hardly seen them going wrong. However I do think that this company is taking a massive risk but let's see how it pans out. Mike Ashley is not a fool and would have a plan to protect his capital.

Of financial restructuring but think Mike Ashley won't increase his stake if that was on the card. Let's see!

7f6

In my opinion he has been told by his institutional investors and lenders to sort out this mess and won't surprise me if there are some targets to hit as well and Matt Moulding can't accept it. Over the years I have come across many stubborn CEOs who thought they were nothing short of Steve Jobs but ended up heading a company to administration.

Not really look at overall results company is suffering from loss and expects to return to profitability in 2024.over the years every single retailer is struggling and quite a few have gone down. In my opinion Matt Moulding is taking a massive risk as if his proposed model does not work then we can end up with a loss-making company with a massive debt.

Behind Mm's rejection as he is not delivering any share value and will not accept any take-over offer. Problem is market looks at profit/loss, cash balance and growth and then determines share-price. Previous results were horrendous and if it was not for take-over bid share price would have fallen further. Institutional investors would be telling Matt Moulding to sort out this mess.

Market has changed as do remember there were quite a few companies who acquired these assets in different parts of world.I do think only couple of companies created any value for shareholders .Market has changed as at one point wildcat exploration wells were in fashion and speculation would drive the price up.Then PSA came in.

Whatever way you look at it, it stinks to high heaven. As this company raised tons of money to buy these assets and then sold these for peanuts.It is a cash-shell and next big thing is "colombian assets" for which we will definitely hear some fancy stories. It is a lifestyle company and shareholders have been tsken for a ride here.

Wow you have got to be stupid to believe that , going through RNS this company has raised tons of money to buy and develop "argentinian assets" and have sold them for peanuts.No we have a company with debt to pay and no source of income.How will it fund "colombian assets" and what is gaurantee that it wont mess up again.

I have read it you need to read it.They have sold 70% stake and at the mintue are not making any money.How are they going to pay back debt and how are they going to fund day to day activities?

Is worthless at this stage, they raised millions to buy these assets and after all these years and money spent turns out these assets are worthless.They have a heavy debt to pay and this 1.2 million wont last long. Looks like they have given up on money owed to them as well.

As company only had 3 millions in september and has burnt through 36 millions in last two years.West kythlim produced is not being sold either.

They need to show where money has gone.West kythlim was cash positive last time I checked but did not require this sort of money."interested party" completed due diligence two years ago but still has not made any offer, in fact there was more than one parties who were interested in this world class asset but funnily enoughvwe have not heard from them again.

Funny thing is this company raised 35 millions through placings and had 3 millions as per last update.So it has burnt through 32 millions in last two years and has got nothing to show for it.That cash balance should not last long.

Is unfolding, there was no buyer and company deliberately inflated share-price.Amazingly no financial results have been produced.This company has been surviving on placibgs as far as I can remember

Rate at which debt will be repaid depends on two factors, price of gold and production rate. Last quarter was best production quarter we had production wise but because of price of gold we only had 17 million fcf. Current quarterly production was much less than that but our fcf was 16.5 because of increase in pog. If both decrease then we will have much less fcf.If both increase then we will have much improved fcf.

It is getting interesting here, this whole mind and plant cost this company 150 millions, that is when Candy brothers tried to take it private at 10 and other institutional investors opposed it.Then we had disastrous years where nothing went right for this company.I remember shares hitting 0.4 at one point and that is when a few institutional investors sold their holdings. We only have two institutional investors and one of them tried to wipe out shareholders through debt to equity swap, other blocked this move.Mine was estimated to produce 1 milllion ounces of gold and we only have less than 40% of that.Company should be debt free in an years time.Real fun would start from here.

Candy brothers have agreed to it other institutional investors has not replied yet.

Think 15% interest rate being charged is due to friction between two lenders.One of them wanted to wipeout shareholders through debt to equity swap and other one opposed it.As a result current agreement came into being.Share prophets had covered it, I have got premium subscription so will see if I can find the article.

Great update, total debt reduced by 12 millions and cash balance is 4.6 millions so net debt is 64.6 millions. At this rate company can be debt free in an year .