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It's looking like we've lost here, they are jumping through the hoops to default non-payment of loan at Shareholders expense.............I've written off a substantial amount as in my opinion very little hope left but I would very much welcome the opportunity to be proved wrong by BT!
I just had the same Pumpky, tried 100k and could buy 50k so bought some more but annoying to get the fees @50k when I wanted 100k...........I was already fully loaded but just broke-out the 'emergency beer fund' cash and will check the price tomorrow for another top-up if possible before the golden RNS lands!
Thanks TommyD_19 and Wigster77...........just been burnt on a few lately and SNG I think have a pretty hefty management salary bill plus research/operational expenses etc. A partnership agreement would be amazing but just wary of the failed P3 has got to be a stigma for some companies but as always I'm hoping the science comes good here and failed P3 can be put behind us with the new mini P2.
Good luck all and I'm hoping the price doesn't drop further but if it does I will (foolishly) top-up and hope to recoup my losses in 2024 sometime all being well!
I'm a long suffering shareholder pre-covid and like most wished I had sold during the hype and before the last lot of P3 results came out...........I've topped-up a few times to try and bring my ugly average down and I'm thinking of topping-up again at these low rates, but my biggest concern (besides no update on new P2) is the cash-flow. From my estimate they had around £17million in June and probably getting through around £5million every 6 months, so around £11million left in Jan 2024.
With the shareprice so low what are LTH's thoughts with regards to any potential fund raising in 2024? I can only assume the management team hope the new mini-P2 will be successful before the cash runs out and then when the share price start to recover again they'll do dilution for a fund raise for the next year to get to P3 again?
Agree, Whereisthegold and it did surprise me how quick BT got back to me and yes he could be spinning us a line but then again why bother as we're already delisted and it's not like any of us can sell to bring the share price down. My thoughts are that GRL has a very strong chance of going under due to the debt and lack of gold delivery ............but there's a small amount of hope and a long shot as I personally think BT is trying to turn this around and gold prices are increasing so they may be able to secure new funding and BT does have some weight in the industry - IMO
As always, good luck, I was also foolish enough to get caught-up in 4D and that was a very quick and bitter end for all shareholders so I understand the risks here and it's gone very badly this year for sure!
To my surprise Bill messaged back, which has given me some confidence again - see below his last sentence as obviously he can't share any sensitive market info but he did confirm the below which may help ease some worries for LTH's:
'We are working on a number of developments that should have a positive outcome for all shareholders this always takes a long time but hopefully we will have very positive news soon.'
Good luck all and we may have good news soon............
For what it's worth I've just emailed Bill Trew (bill@maed.co.uk) via his Paracale Gold email adds requesting any info with regards to the debts being called in, low gold pour etc . Obviously little hope of him responding and it's feeling like this was engineered for failure but then again Bill is an investor via Paracale Gold............I'm almost writing this off as another foolish penny stock investment but holding out 10% because of Bill's interest at Paracale Gold but I can't help but think that this has been pre-planned what with the recent accounts issue!
Good luck all, as luck is our only positive with this share!
It is a very odd situation as no update on the accounts to be relisted again but good to hear they've renegotiated the loan extension which means they haven't given up on shareholders just yet but the very short extension timeline makes no sense unless..............they're about to deliver a motherload of gold (unlikely), or they are looking to get another loan to pay off the existing loan, or they're just buying time and hoping they win the lottery , or that was the best deal they could get and hope to renegotiate again when they fail to deliver and probably will get a penalty or higher interest rate on next loan deadline (most likely outcome). A right old mess and very frustrating but there's still a chance we may not lose everything yet!
Feeling like this is going to end badly, hoping my investment isn't wiped-out but the recent RNS is saying otherwise but in my opinion they seem to be prepping us for the loss............no choice but to hang about now until they're ready to reveal their plan!
Just to update that I didn't get any response from GRL which is disappointing - not even an acknowledgement of my message via the website, I guess our only option is to wait and hope we hear something soon. I've now emailed them directly and will post an update if I hear anything.
Good luck all LTH's
Hi LTH's,
Just for fun I've contacted GRL via their website requesting an update with regards to their financial reports and when we will be relisted back on AIM, not expecting an answer but you never know as be good to have some hope again with the share being relisted and surely we're due a gold pour update soon as we're now getting into September! Good luck all.....
Yes hopefully Alhambra7, I can't see the accounts being that complicated it's not like there's a lot of profit to calculate!! There must be something in the finance of the business that either didn't appeal to the last accountant or simply GRL chose a bad time to change accountants in advance of the filing date. Either way let's hope they get this share relisted soon and for once they deliver a better gold total to lift this dismally low share price.
Sigh...............what a mess GRL is - any ideas for relisting dates when the new accountants have finally had a review of the GRL accounts - I had hoped by the end of July but I'm guessing now by the end of August now! I run a small business and I know I could request from my or any accountant to get my business accounts in order as a priority in a matter of a couple of weeks if you're happy to expedite with additional costs, so I'm assuming GRL are for some reason playing a waiting game with the usual disregard to share holders but let's see what happens. Good luck all LTH's.
I've been adding slowly here but I'm in this for the longer term and in my opinion this is a profitable company and revenues are slowly growing/recovering from Covid etc, but appreciate the recession may have dented profits. I think for the long term the current price seems crazy low so loading up.........................however, I am wondering how much further it will drop as I was surprised when it went below £1 now I'm thinking is the support @90p to go today or next week and we're going to be in the 80's potentially - bonkers!
Also agree GoldyBlocks and jdt1990............GRL management have got a lot to prove and so far it's looking like an AIM stock designed for failure but to fund other interests for the management team, really hope I'm wrong and it's just dumb decisions which they will learn from.
Any bets on when we're re-listed, just for fun I'm going with by end of 31st July but the management team may reveal any possible 'sinister plans' depending on what they find in the accounts - again just my bitter and twisted mind thinking the worst and hoping for the best!
No hard evidence other than the recent events over the last year as for an experienced management team many of these issues could have be avoided especially the latest audited accounts failure and in general the ongoing lack of delivery in terms of gold pours and progress..........All in my opinion of course and I'm heavily invested here so really hope I'm wrong but I've been burnt a few times on AIM and I need some positive news soon to help alleviate my suspicions. Good luck all and look forward to the suspension being lifted soon!
Thanks GoldyBlocks and DanInvestor.......also sorry to any LTH's as it's another AIM (Legal) Ponzi Scheme - at least it's starting to feel like that! I'm a speculator and I've paid dearly too with some foolish COVID stocks and other high risks stocks such as GRL. Interesting comments GoldyBlocks but I would like to now provide evidence where you are wrong and GRL was not a company designed as another Ponzi scheme. However, the truth is I think you could be correct, another AIM share where the share-holders pay dearly and the company owners probably always intended to get rich quick off the back of shareholders rather than focussing on the business.
As as I say, I'm pretty foolish when it comes to investments and I take high risks but I'll sit here for quite a while longer and I hope there won't be too many more 'stupid problems' that could have been avoided, but time will tell. Good luck to all LTH's and let's hope these were genuine and silly mistakes and that management will do better in delivering some substantial gold pours and positive news soon!
Oh dear, am I regretting my GRL investment which I started back in the end of 2020............is it me or do LTH's think this could be close to the end for GRL as something very odd is going on as others have indicated and I invested here not just because of the mine prospects but also because of the so called experienced management team and their buy-in at GRL. But what we've really seen is very amateur management of the business now a failed audit 2022 Annual Report and Accounts which let's be honest, anyone with a ounce of business sense would of noted this upcoming issue and now it's going to be suspended for what could be a while.
I'm not ready to kiss goodbye to some heavy losses but I'm starting to getting a very negative feeling about GRL's long term prospects and I think shareholders are at the very bottom of GRL's management team's interest.......hoping this dog turns-around when they've woken-up their new auditors but I'm preparing for another AIM flop and financial hit!
As a long suffering LTH I'm still here MrIndia, same take as you.........further disappointments but I'm all in and not selling and willing to wait another 12-18 months if I need to, but I seriously hope we are back on track with IND passed in next 6 months or so as a worst case scenario; or at least very close to IND completion.
I'm probably going to average down again if it stays around this price over the next few days as I think this will hover between 1.5-2 over the next few months before hopefully getting passed 4p in the near future (and before the next fund raise comes in)!
Good luck to all LTH's and we've been here before with Hemo and I think we will get through this but just another disappointment to suck-up before we see some rewards.
Disappointing, I could have sold-out for a profit earlier this year but waited for FDA IND approval, been here 3 years and have gone 'large' on this one, feeling guilty that I shouldn't have invested so much but I work in a technical environment which is heavily regulated and process driven, my company is also audited annually. I know this is a different industry, but Hemo can work with FDA and respond as needed and this is just part of the process, this is also Hemo's first IND application so there's going to be learning on Hemo's front so I'm holding.............if I had more funds I would buy on the dip and I'm willing to hold another 12-15 months before I consider existing at a loss, I believe we will see 8p+ again (probably being foolish) but it could be late this year or next year, who knows! Good luck all.