Member Info for Suggins

Perhaps our German friends need cash badly ?

Maybe Kisbey-Green could follow Mr McCrea and buy a bit of stock to try and help confidence. He sold a few Goldplat shares recently so should have a bit of cash available.

Definitely need something !

Mr McCrea has a tough job on his hands right at the moment it seems. He will need to be flexible and imaginative to guide us through these stormy waters.

It does seem that Mr McCrea is rather better at running the business side than the public company side of things but that must be better than the alternative of a bloated public school ex-banker in a London office trying to progress matters by telephone (cough Andrew Bell cough cough).

If the underlying business continues to progress then any minor corporate gripes will be long forgotten and the share price must rise.

Up up up !

We have strike length, and results gives us depth but I think we need strike width before resource estimation can begin. A map of the drill sites would probably do it.

Current jorc at Killi hill is 532,000 oz I think. Surely this is going to jump up by a huge amount when these latest drill results are incorporated to create the updated resource statement.

100% hit rate is ok I suppose.

Does a decent rise on modest volume mean sellers have evaporated?

Run little gcat run !

They had a problem with the listing due to accounts. Might it be related to this listing requirement:-

'Working Capital and Solvency Issuer shall not be insolvent, they must have adequate working capital.
The Directors of the Issuer shall give an opinion on the adequacy of working capital for at least twelve months immediately following the share offering, and the auditors of the issuer shall confirm in writing the adequacy of that capital.'

In our last accounts (for the period pre-raise):-

'... the Group will need to raise funding to provide additional working capital within the next 12 months. The ability of the Group to meet its projected expenditure is dependent on these further equity injections and / or the raising of cash through bank loans or other debt instruments.'

So they raised the cash and can now happily say that they have sufficient funds to keep going for 12 months which will allow them to meet the listing requirements. If so, it might explain the lack of clarity on the listing delay as they didn't want to tell everyone they needed to raise funds.

Didn't he also previously say by end Q1 knowing that the samples hadn't even been sent off ?

If the largish sells were a recent thing then I agree it might raise questions but as they have been going on consistently for such a long period I don't think they represent a reliable marker.

Are they being held back until the first assay results are in and can be released together ? If so, does that suggest the results are not themselves stellar?

I’d thought we’d get these this morning; wonder where they’ve gone ?!

Definitely dire - but only in so far as the share price is concerned.

Company performance, so far as I can see from publicly available information, is solid (unless it has all gone wrong in the last three months and we are soon to be told the terrible truth !)

Volume seems to suggest everyone has sold (and some people twice).

I am very positive about prospects here but I think I’m going to have go right out and say it. Recent share price movement has been sub-optimal.

Does it really matter ?

If you trust the management, and I certainly do, then any raise will be in our best interests.

Q1 results very much due. First Assay results in a week or so and more to follow in quick order.

Nairobi listing (perhaps they could share the big investor breakfast menu so we could join in from here ?) and updated resource statement both within two months.

Plus many other updates on the cards including details of the innovative joint scheme with the government and local artisanal miners.

Very exciting times.