Member Info for Suggins

Impressive to continue to raise funds through the issue of shares which can’t be issued. Orca hold security over the assets for their advanced funds, not what security, if any, these latest investors have received. The wording seems to suggest the deal has been done though.

Lovely detective work and great to see a massive pile of gold laden earth.

Finally some action with the Caracal Holdings filings. The new chair and our non exex have been appointed as directors. Really good news.

Our old chair (and precious sole director) has not yet resigned, the address is wrong and the accounts and confirmation statement are still outstanding but at least with live directors they can now look to resolve these matters.

Might this action suggest they are nearing needing to control this company, for example to grant a charge as part of a financing package ?

Oh it’s like ‘guess who’, a Chinese company with a presence in Tanzania and in Zambia.

Well it all certainly sounds positive, Zambia this time for the JV meeting; which gold miners operate from there ? Must narrow down the suspects a fair bit.

I hope you are right Jerseycrew but I’m not sure we have any way of knowing how our lenders/debtors are acting, there was no evidence of mill end jumping up and down previously but we know their overall repayment is healthy and that won’t be as a result of them quietly sitting in a corner.

As set out in the RNS of 16 Feb. Seemed a long way off then but today is the longstop date to be able to issue shares (and so you’d think need an approved prospectus) as part of the Orca funding deal.

It is not clear to me exactly what happens now. Perhaps Orca have simply agreed to an extension but as they were given security over the mine I’d like to think we will get an update of some sort.

You are certainly correct that there are far more important issues at play.

I would look at the filing like health and safety though. You do it to reduce your risks of having a serious problem.

Thanks DanielC43R but they have had plenty of time to resolve the issue. They obtained the necessary documentation to resign the old chair from the PLC and so I am not sure I buy the simple delay response.

There should never have been just one director for the company; they seem to have some absolutely terrible advisors. Cargill Management are listed as company secretarial and I would think this falls under their remit. Sue the bastards !

The three PLC director resignations are all now neatly recorded at Companies House which is good to see.

It is unfortunate that the record for Caracal Holdings Limited has still not been updated, the accounts are outstanding by over 6 months and there is still just one director who is the ex-chairman. This is rather troubling.

Thank you; so the shares were valued at 0.36 ish. I suppose you have to do what you have to do.

Can anyone remember how much was left to pay ?

Just wondering what value they gave each of the 133 million shares they’ve issued. If they owed £500k it would be 0.375.

Updated again; all but one of the rogue other company documents have been removed now. Nice to see action and well done DanielC43R. You definitely deserve some merch.

Very exciting. The deal must be all but done already or you wouldn’t set yourself up for failure with that sort of tweet, similarly, if there really were tough negotiations to come that sort of tweet would only add pressure to your position.

It’s broken the price out of the recent trading range. Hopefully the start of a gentle pre-news rise.

A tweet showing visible gold might be creating a little ripple.

A raft of new policies have been added. Seems to be good governance progress going on.

I might be wrong but I thought there was something about new process having increased percentages accounted for; creating the suggestion that previously some gold may have gone astray.

Oh dear, I hope no one has pinched any of our gold.

Wasn’t their a vailed reference in a past Rns to previous thefts/losses and with confirmation issues had been addressed?

Are these board changes a result of the internal governance review, matters picked up by funders due diligence (and subsequent funding conditions) or possibly a combination ?