Member Info for Suggins

Can’t wait for the RNS to announce the acquisition of the new wall calendar.

Credit where it’s due, top draw ****housery today.

It does mean someone wants in cheap though, which can’t be all bad.

He said he would seek board authority - could have triggered the bust up.

Very terse announcement; didn’t even wish him well for the future. Either very rushed or a big bust up, or both.

Schrodinger’s gold mine ?

guentin24 (whoever you are) - the next time you wash your hands I hope your sleeves get really wet.

Legalwolf; as you are fully aware there are more than enough genuine concerns here without people needing to try and add baseless additional issues.

tornadotony re your two points:-

1. They don’t know enough to run a mine safely. The company website includes details of the senior management team. You will see decades of relevant experience from numerous individuals.

2. The resource report cannot be trusted/is incomplete. A fully independent JORC report was in the prospectus. This has been updated recently. Again check the website for the details of the group mineral resource manager who oversaw this work and has 22 years relevant experience. It was not simply the CEO who cobbled something together. I’d also highlight the recent scoping study which was deemed acceptable to lenders (one of whom withdrew for other reasons as per recent Rns)

not everyone agrees:-

https://twitter.com/JB_MiningAfrica/status/1613621479630901268?s=20&t=lNWcM5K7YreKvNyddxwoFw

Security has previously been given by way of charges over the UK plc and uk subsidiary holding company.

Stating the obvious I know but we desperately need confirmation that the $3 million funding is secured. I know they’ll be furiously working on it and it won’t be for lack of effort that it’s not been finalised yet.

We have the scoping study numbers and given that gold is well up on those used in the study the figures seem robust.

In order to derive a current fair valuation the question seems to me to be what level of risk should we now attach to achieving the project. After yesterday’s news the risk has undoubtedly increased. Using the back of a very small envelope I think 0.75p is around right for 60% chance of success. Unsurprisingly, sentiment is at a low ebb and so the share price sits below this figure.

This doesn’t factor in other prospects.

What do clever people think ?

Philoro is a German-Austrian company - time for our German non-exec to earn his shekles.

I don’t think that is fair. It does seem that it was dependent on the expansion/production plan which assumed the OCIM money though and so really should have been expressed to be conditional as well.

The new Stockbox interveiw explains this.

Why they couldn’t they just take a charge over the UK holding company like Goldplat did.

Complicated all these international finance deals. I wonder if France had won the World Cup it might have gone through.

Please return to your seats, the seatbelt sign has been illuminated.

Why did they choose not to extend the long stop ? Gold price not the answer.

Bugger

Next set of numbers will be very interesting indeed; will the stellar growth return?

Still cheap now mind, trading just over 40% of domestic price which is right at the very lower end of its range.