Member Info for Suggins

Certainly clearing out the existing board; does this mean that the new funders have their own people lined up?

Given the longstop date attached to the ORCA funding we must hear within 3 weeks now with the prospectus and you'd think with funding as well. A very nervous wait.

Thanks banijuhina.

Very interesting banijuhina.

I don’t think publicly there has been any reference to the work of the new chairman, even the Mill End renegotiation Rns didn’t seem to mention him. Are you surmising his impact or do you have sources ? Or are you familiar with his work at other companies?

The Rns wasn’t clear on that point but there was definitely a difference between the £600,000 to be paid when a placing takes place and £850,000 at a later date.

The 850,000 specifically mentioned a possible payment in shares but the 600,000 did not.

As the payment of 600,000 was linked to a placing I had though that it would be from the proceeds of that placing but I’m not so sure now. I wonder if whoever is due those shares did not agree for the business to payout such a large sum before they had their shares. If this is the case then the 600,000 could be from operations and the related placing will be for shares we know about rather than truly new ones which would be far better.

Is this issued now because they have stopped their selling (at least temporarily) - they surely had circa 150 million shares and now have circa 80 million ?

Or, as the form was completed in Mexico, maybe they just had an idle hour on their holidays ?

Thanks danielc43r; a fair few links within the website don’t seem to work for me either.

The boilerplate disclaimer section seems to have been lifted from Emerson PLC as they haven’t changed the company number or address at the start, just the name. Copying someone’s content copyright warning seems a nice touch.

There seem to have been a few updates I’d not seen before. This includes a presentation used at a recent mines and money conference.

Slightly oddly, it seems that there are also a number of documents on the site which relate to an unconnected oil and gas company. Why is there always something wrong !

Where will it go ? These people might well know:-

https://twitter.com/igwtreport/status/1661298016752418817?s=46&t=IZZan0pHCVWwqkERoDSOeg

More good progress.

So on millend, is this correct ?

Paid

1. 150,000,000 shares given value 0.3p equal to around $560,000 (this is the share value set out in the director shareholding Rns)

2. $250,000 cash

Left to pay

3. $150,000 in cash by 7/6 - cash from resources

4. $600,000 in cash when a placing takes place - from the proceeds of a placing (circa 160,000,000 new shares if price was 0.3p)

5. $823,258 in cash when available - I assume it is hoped to pay this from the new funding but there is a fallback position of being able to pay this in shares given a price of 0.35p or price of placing shares if lower. So if no cash is available another circa 220,000,000 shares. No payment longstop date provided.

Looks like joint broker Clear Capital are no longer as involved, not appeared on the last few RNS footers.

A nice tweet; I particularly liked the speech marks around the word Monday.

They started up processing again on 5 March and produced 627oz in the remainder of the month. That put March on a run rate of around 750oz/month, I think that is one of their best ever rates and very encouraging.

Slightly disappointing that there was no post period comment but certainly a nice clear update.

My view was the opposite, resolving this loan clears a big potential stumbling block to issuing a nice clean and straightforward prospectus.

My hope is that this RNS was somewhat rushed out today so as to leave a nice clear run for the production update next week, and it is this that explains the lack of clarity.

So they settled $1.8 mil cash plus 150 million shares (circa £550,000) ?

This does appear to be something of a self inflicted wound. So unnecessary to make a short term time specific promise unless all the necessary information was in place.

Sudden volume spike to 433,000 on the domestic exchange today, no price movement though.

Come on now, let’s have it. Two smelts a week must be producing some decent gold and prices remain over $2,000 / oz.

Never mind the external geological consultants, all the long term shareholders are encouraged by this !

The plc filings are all up to date but the subsidiary, Caracal Holdings, are not.