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You've been investing for years and don't know the difference between 'revenue' and 'profit'?
And you expect people to take your posts seriously?
> He hasn't mined or sold a single ounce of gold. Not one......!!
https://wishbonegold.com/wp-content/uploads/2021/03/RNSWSBN_General_Trading_Update2ros190521.pdf
Honduras processing and Dubai trading. I thought you said you read the RNSs?
https://wishbonegold.com/wp-content/uploads/2021/03/RNSWSBN_Trading_Update_and_Notice_of_EGM20gr191219.pdf
over $10 million revenue from gold trading in 2018 and another $10 million in 2019. They did that without selling a single ounce, huh?
Scotia International group paid $50,000 towards the operations in Honduras, as the first part of $600,000 total, and another up to $400k from any profits.
https://wishbonegold.com/wp-content/uploads/2021/03/RNSWSBN_Trading_Update_and_Extension_of_Reporting_Deadline91hn200630.pdf
$3.64 million in gold trading in Q1 2020, hit hard by COVID travel restrictions. Leading to a COVID-compatible change of direction:
https://wishbonegold.com/wp-content/uploads/2021/03/RNSWSBN_Gold_Exploration_to_Commence_on_Australian_High-Grade_Targets92u5200819.pdf
"we are now focusing at getting value from our gold assets in Australia. The Queensland State Government has acted swiftly with respect to COVID-19 lockdowns and controls and the State is relatively free from the virus. Mining is also regarded by the Government as a key essential industry, so conducting exploration on the Company’s assets can be accomplished in these globally difficult times"
> pictures of "golden nuggets", my question still stands: W H E R E I S T H E G O L D.......
Right there, literally photos of it, you don't believe your own eyes, or forgot what you typed five words ago?
> Poulden is stringing shareholders along - big time!!
WSBN is an exploration company, if it was easy to find and mine gold on demand, it would all have been found and mined decades ago. You want big gold production at low risk, buy shares in the big gold miners.
> After FOURTEEN YEARS
He's persistent, isn't he? Driving the company forward year after year chasing gold income, growth, acquisitions, trading, licensing, international expansion.
Read some of the back RNS history on other AIM companies - banging on one single drum for a decade, never trying anything new, never progressing, innovating, expanding in any direction, until they close up. Look at the RNS history of Osirium (OSI) doing nothing with their software, selling almost none of it, trying nothing new, for fifteen years of decline until being acquired for a song. Or GCM there's an RNS from 2014 they're focused on delivering the Phulbari coal project and another one in 2021 they "have remained focussed on delivering returns on shareholder investment through packaging the Project in its best possible form". And now in 2024 maybe they have some movement on it after a decade of trying nothing else.
I'd like Wishbone to have more success, to be back at 18p, but you (and Watcher36) lying and whining and misleading people isn't going to
Autocorrect' *Telfer
> > "Where's the gold? Where's the gold? Where's the gold? Did any of you know we had/have a gold operation in Honduras? No? Me neither!"
Yes, because I read the company announcements and try to know something about what I'm investing in. Did you know we had a gold trading business in Dubai until it was shut by COVID-19?
Did you know we have a license on some land in Australia? And we drilled it for gold, and found actual real gold? And we're back there drilling more, with licenses to drill thousands of meters of holes? And independent geologists have described it as similar to Telford? It's called "Red Setter", it might be worth reading about. Did you know we were in a race to submit papers to get that license and only beat other companies by a few hours?
And that we have another license on "Cottesloe" which has drilling funded by the Australian government?
> he won’t have much longer left before us shareholders boot him out
He's 72, how much longer does he have in good health to be a company director, or until he wants to retire?
Red Setter isn't needle-in-haystack, hopefully it's vast amounts of low grade gold near enough to the surface to be worth trucking to Telfer. It's had hype, it's had surveys, it's started to be drilled, why does that need a new media company to say if it's happening or not?
From over on the GGP board:
> ....In an interview, chief executive officer Tom Palmer said the mines being divested do not meet the company’s criteria of “Tier 1” assets.
> “We have a number of Tier 2 assets that are very good assets, run by very good people, but that don’t make our Tier 1 category,” Palmer said.
> The company has already begun receiving interest from potential buyers, Palmer said.
We can hope that potential buyers of Telfer/Havieron won't consider them 'tier 2' assets and will want to invest and expand them with nearby Red Setter.
> I would respectfully suggest that at least 95% of shareholders are in Mosman for the helium play. Which is now moving in the right direction. If we gain a few barrels of oil then great. But it is the helium play that counts.
Afzal Valli bought 10% of the company in 23rd March 2021 RNS because of the Helium play, back when there were only 3.8Bn shares in issue. He sold all of it in November 2021. Good move; two and a half years later, a 1/10x bagger. A tenth bagger for the shorters, is that a thing?
Spare a thought for the poor non-exec director:
> ... resolution at the Company's Annual General Meeting held on 29 November 2022, Mr Nigel Harvey has commenced his role as a Non-Executive Director of Mosman. Mr Harvey holds a beneficial interest in 137,500 ordinary shares in the Company.
137,500 out of 9,810,000,000. Some 0.00014% of the company, present value... £18.56
> "I would suggest that the company is well positioned to benefit from significant exploration upside potential throughout 2024".
Hope so; 2023 saw:
- Acquire more acreage at Cottesloe East.
- "Red Setter interpreted as potential analogue to the nearby Telfer Gold Mine says Canadian Based Expert Geophysics Group".
- Funding grant of A$220,000 from the Australian Government.
- Survey results at Cottesloe: "The existing data sets comprising magnetics, gravity, geochem and drill combined with the new gravity information all point to the same area".
- RC drilled Cottesloe and Red Setter.
- First drilling RNS "reinforce those announced by the company in May, namely that Cottesloe has significant mineralisation potential and is considered highly prospective for precious and base metals".
- Changed strategy at Red Setter, "Following the [...] opinion that Red Setter was an analogue of Telfer [...] the exploration program [...] is looking for broad spreads of mineralisation rather than single high grade bulls eyes."
- "Assay results from the [Cottesloe] RC drilling are encouraging as we are yet to hit the target mineralisation zone".
- Started diamond drilling at Cottesloe, 8th November.
- RNS'd "The first hole has already returned encouraging mineralised results", 13th November.
- "secured an exclusive option to acquire 100% of the Crescent East Lithium and Gold Project, located in the prolific gold area of Mosquito Creek".
- "Mineralisation over 3km strike at Red Setter".
-"Further Encouraging Visual Results at Cottesloe".
-Completed due diligence on the Crescent East Lithium and Gold Project and acquired it.
- went from 198,912,868 shares in Dec 2022 to 302,740,307 shares today.
- dropped from ~8.2p down to 1.2p share price.
And that's after a 2022 of "In Queensland, the Wishbone II project has almost doubled in size recently with the addition of Wishbone VI", "acquired the Anketell project and completed magnetic modelling over the large anomaly in the centre of the tenement which could prove to be notable", "RC drill program at Wishbone II and IV proceeded smoothly with copper and gold mineralisation found throughout multiple holes drilled".
> "Am I right in saying then that we paid £400,000 for the lease and found £160,000 worth of gold during due diligence? That must of been a kick in the balls to the seller"
Unless the seller put £160k of tempting gold chunks there to convince the buyer to part with £400k, lol.
> Yes, im a troll for stating facts and telling the truth...
No, not those things; you're a troll for all the trolling you do.
Ragebaiting. Namecalling. Lying.
> it will never find gold.
Took you less than six hours to go from blustering about how you "state facts and tell the truth" to outright shameless lying. "The results confirm a significant gold system with a mineralised strike over 3km." - RNS from 4 Dec 2023 07:00
> The potential is vast - particular if they find gold or copper at Red Setter.
They have found gold at Red Setter. They've found gold in every hole they drilled, and they haven't got to the target drill depth yet.
> Next door have gold so we ought to have it in our back yard too. But like saying if my neighbour won the lottery I have a better chance than most as he is my neighbour. How people can fall for this rubbish unbelievable.
If next door live by the sea, you probably live by the sea. If next door lives high on a mountainside, you probably live high on the same mountainside. If next door live on a historic dried out sea floor, you probably do too. If next door live over conditions where gold is found, there's a higher than random chance that you do as well.
And look at that, we do have gold in our back yard! How anyone can call proven facts 'unbelievable rubbish' is a question for the ages.
> I need 3.4p and I'm out.
Best thing to do is trash-talk the share then; you wouldn't want anyone buying in so you can get that 3.4p, would you?
"Pump and dump" - watcher36 today, 1st December, 22nd November, 20th November, 20th November again, 15th November, 1st November claiming "two in a day", 23rd October...
"The share price changed" is not a pump and dump.
> This is peak drilling season, if they have a 3km "strike" why aren't they drilling it NOW?
Read back to 22nd August RNS - "Drill Rigs Mobilised at Cottesloe then Red Setter" that said: "specialist drill rigs and support trucks have been mobilised to its Cottesloe Project", "After the rigs finish drilling at Cottesloe they will mobilise to Wishbone's Red Setter Project", "Strike Drilling is conducting both drill programs".
The latest RNS says "with the extensive drilling at Cottesloe still underway, it was not possible to complete any further drilling at Red Setter." and "We look forward to continuing this drill programme once the diamond drill rigs mobilise to site next year."
Because they have to wait for the drill rigs to finish, and be moved.
> Where are the results? He MUST have them in his office by now. He KNOWS the results. Why hasn't he released them yet?
You're suggesting he's doing deals with other companies paying with Wishbone shares while withholding price sensitive information from the market? You don't think Mining Equities Pty Ltd would have lawyers with something to say about that?
David Guyatt runs the company down down down for 15 years, hands over to a new CEO nine months before it crashes into the ground. Good timing.
> Osirium employs approximately 40 staff including those in sales, marketing,
Why has the word 'sinecure' come to mind.
> What if a private equity fund decide to bid and provide capital for rapid growth???
What if they've already had millions and millions and millions and millions of shareholder funds for rapid growth, slow growth, and delivered nothing with it?
I can't believe the CEO has been in place for 9 months and hasn't been publicly changing anything or talking about intending to change anything. Is he fine with this?
Reading back through the ADVFN forums on OSI, a poster called timbo003 claimed to be at the AGM in Jun 2022 and spoke to the CEO afterwards, with these comments from the CEO:
> The state of Osirium’s balance sheet has not deterred customers from doing business with them
(I'm a bit surprised; committing to a 3 year contract and six figures, when the the company hasn't enough money to last 1 year, that doesn't worry customers?)
> Osirium does not ever have problems with bad debtors
> The BOD are looking at other methods of financing the business, not just through issue of additional equity (invoice financing was mentioned as an example)
(That didn't work out well for the November or February placings, what should we predict for this coming funding?)
> In a few years from now, the company is likely to end up being sold in a trade sale, the CEO has a good track record building tech companies then exiting from a trade sale (most notably MIMEsweeper)
(Feels a little bit delusional; shortly after that, the CEO moved to chairman role).
> Over 80% of sales are made through channel partners, the channel partner may take 10 – 30% from the sale, but it involves little or no resource from Osirium.
("We're sitting around waiting for customers to find us, and it hasn't worked well for years, but hopefully it will sometime soon"?)
"If this doesn’t 10 bag within a year I’ll walk naked down Kensington high street." - AlanCapone, 20th August 2023 at 6.5p/share.
> You comparing a 2.8 billion pound company to osi? You do realise this is the aim market.... Mabye you should invest in darktrace instead?
Can you explain what you object to about my comparison? Where have I asked anything unreasonable or unfair of Osirium?
> market knew we would need cash then on the next positive update
I'm going to be banging this drum for ages, probably. What Osirium added to their ARR in a year, DarkTrace added in a DAY. And did that EVERY WEEKDAY OF THE YEAR and then MORE ON TOP.
A SINGLE WEEK of DarkTrace size sales in the SIX MONTHS before Christmas and Osirium would be well profitable! They shouldn't need to raise funds, they need someone who can sell, close contracts!
Twice they've issued enough shares to be half the company and they might be about to do it again; surprising nobody with deep pockets has taken a controlling interest and pushed through some changes. How about: CEO bonus suspended until they are profitable. No more 2p options, no options below 6p or 10p. Stuart McGregor has to bring about a significant increase in sales by September update, and another significant one by end of year, or he steps down from CEO role and moves to a supporting role (not sales director), and if he can, the increases have to continue through 2024 as well?
For comparison, DarkTrace (DARK) "a global leader in cyber security AI" reported their results: "net ARR added for the year of at least $141.6 million, at most down (1.8)% from FY22 despite the impacts of a challenging macro-economic environment."
This is the CyberSecurity market Osirium is operating in. Plenty of money around. Why can't they get it in the millions and tens of millions?
> Dont forget directors have options at 2p
In 2016 they had options at 187p. In 2020 they had options from 35p+. They've given up on both of those. It needed shareholder pushback to hold them to 2p. (see the RNSs from April). You can see they've had to lower their sights over the years.
> the company must have achieved annualised recurring revenue ("ARR") of at least £3.5 million
How far away is that? 15-24 months? In the first half of 2022 they grew ARR by £160k. In the second half of 2022 5they grew it by £340k. Wow accelerating growth! First half of this year they've grown that by £300k. Boo! Acceleration stopped. The last figure for it was around £1.94M in December, make up your own numbers, if they add ~£300k every six months it will be 2 years to get there, Christmas 2025. If they can accelerate again, it could be 18 months? 15 months?
They need at least one fundraise to cover something like £0.5M-£1.5M expected losses over the next year. Maybe they can make a chunk of that up in non-recurring sales revenue? I haven't paid attention to those numbers.
> Osi is a good growing company unlike many others on the aim market. With cyber attacks on the rise (will only get worse) imo they are in the right position at the right time.
I don't disagree, so ... why aren't they growing faster? When founded in 2008 they were early. In 2016 when they listed that was a great time. Now in 2023 the market's being eaten, BeyondTrust takes $330M/year revenue, Osirium is puttering about with £0.2M of cost cutting and lowering their Director's targets. The sales director whose strategy has been so weak all the years, they just made him CEO. The market isn't standing still, if they keep the growth rate over the next 5 years they'll be an also-ran nobody, they might get bought and shut down just to take the customers and end the competition.
To become a big player they need to STOMP on the sales accelerator and be adding - I dunno - £1.5M ARR by Christmas, £5M next year, £12M the year after, £40M the year after, £100M the year after. Their recent yearly additions were 160k, 300k, 0.4k, 500k, ~600k. There's no hint anywhere that they have what it takes to avoid being an also-ran.
If September interim results say on track for £300k H2 this year or worse, that's a dragged out 24month future to barely breakeven. Weak sell.
If they say on track for £4-600k H2 this year, they got the accelerator going, but it's a fairly slow 1year+ future. Neutral.
If they say much more than that, £750-£1M+ for the second half of this year, STRONG BUY (maybe after any placing).