Member Info for TheMoss

The government said it wanted to build lots of new houses. However they have increased stamp duty, failed to introduce any sort of "help to buy scheme", made Labour costs more expensive and interest rates look like doing a U turn. Companies such as Vistry seem to be in trouble and many smaller house builders have folded.

They say it's how you react in the tough times that is important.. What is called for is top class management. If companies fold there are more opportunities for those that survive when things pick up. Persimmon do seem to have good management I think they are going to come out of this just fine. It's just in the interim things might be difficult.

Sold mine. Not impressed.

A dividend would be preferable to a share buyback because it doesn't seem to be raising the share price. Mills is effectively is receiving a dividend by selling shares while maintaining his share of the company. Progress doesn't seem to be spectacular.

The price of gold could remain high for some time especially with a lack of confidence in the dollar, the situation in Ukraine and Iran and with Trump setting his sights on Venezuela, Canada and Greenland. The big question is how high will it go and when will things change. As for Caracal I wouldn't have thought there was anything left for present shareholders.

I can't say I'm bothered either way. The dividends good and the share price has been higher than they are offering.

What numbers are you referring to . The last set of accounts showed the company was heavily in debt.

You wrote

"I sometimes wonder at the business acumen on here but then I am presupposing that people understand basic business principles I guess."

It is also obvious from the above statement, that smacks of total arrogance, that the only opinion you are interested in is your own.

You have repeatedly come out with bullish statements but the company lurches from one crisis to another. Even this McCrae, who you seemed to worship, has disappeared from the picture.

Who and on what terms would anyone lend money to this company? Two companies have looked at the situation and thought better of getting involved. The auditors having had access to the books don't think it's a "going concern". However you feel you know better.

"If you invest in the stock market you should hopefully be fully aware of the risks you take and be prepared to lose. Otherwise stay out of it and invest in government bonds or even Premium Bonds if safety is your priority. The nature of the beast is some you win and some you lose. Sure you can complain when things are going wrong if that makes feel better, but it won't change anything so serves little purpose"

The amount of money I have invested here is minimal and people are well aware of the risks of investing. What people don't agree with is the fairy story that some knight in shining armour is going to dump large amounts of cash, on a company the auditors have doubted as a "going concern', paying off large amounts of debt and providing millions more to get the mine up and running and be generous enough to do it in such a way existing shareholders will be left with anything worthwhile.

The only viable way forward would be a massive share issue that would wipe out existing shareholders and even then I can't see why new shareholders would agree to provide cash to pay off the massive debts built up to date.

People know shares involve risk they don't believe in fairy tales. Whatever happens is out of shareholders control. It's existing shareholders who believe this is going to come good that are being unrealistic.

New people have been brought in. The company may well survive. The mine may well open. Existing shareholders will be left with nothing. Get used to it.

I can't understand who and on what basis anyone would give them a loan. The nature of a loan provider is they want a steady return, without high risk and some guarantee that their cash is secured against assets.

Here their cash is at risk and their is nothing to sell to recover the loan if things don't work out. Even the mine and who controls it is under government control. Neither could the company making the loan have any confidence in the management of the company. They have failed to carry out routine tasks. Added to that the last auditors expressed doubts as to whether it was a "going concern"

They could do a share issue but the terms would wipe out the current shareholders

Danieldavis is right. You wouldn't put large sums into a company to pay off millions on existing debt. You'd wait until it went under and buy the assets.

The POG is relevant but it's a long way down the pecking order to the extent it isn't of major relevance.

There has been talks with people expressing an interest in investing but they have all fallen through. It isn't difficult to work out why.

Any thoughts on an alternative REIT to invest in if this gets sold?

It should be easy to produce accounts when you're not actually doing anything. The only difficult bit of the audit is finding an auditor who would agree to it being a going concern and finding someone daft enough to give a guarantee that the audit fee will be paid. We've reached the stage where the vultures are picking over the last bits of flesh and managers are setting themselves up for a future with potential new owners

I would have to agree. The management is dire

This is no different to what happened to Sirius Minerals which was a much bigger, better run company.

I would have thought relisting on another exchange was the least of Caracal"s concerns.

That's exactly what they'll do. It's happened before with much bigger companies than this and you can't blame them.

"The Moss - don’t lose sight of POG and how that changes the business economics."

I have got other gold shares that are doing really well. The problem is getting any loan. It's just not a great offering for any lender.

It's like saying "I've got this 100-1 shot. You lend me a thousand pounds. If it wins I'll give you £1150 and Ill keep the £98750. If it looses you'll lose your £1000. It isn't going to happen. The other problem is the outstanding debts. People need paying and any loan will be swallowed up in paying off outstanding debts. It's also difficult to see who is going to make loans when the auditors are doubting if it's a going concern. This is going to end up getting sold off for very little.

"Let’s end on a positive note- in my view POG will be in excess of $3K before 2025B - AISC was sub $1.5K but let’s call it say $1.7K with inflation - so circa £1.2K GP in rough and ready terms, per Oz. This company is not dead yet even if we have been on life support for far far too long."

The last accountants didn't think it was a going concern and resigned. It is struggling to get finance. The accounts show it has lots of debt. The management can't even come up with accounts and confirmation statements on time. This company has little chance of getting back on track.

Yes but it's totally irrelevant to what we are talking about. On the other hand I'm an accountant and much of this rubbish Gcat has been coming out with doesn't make any sense. Some on here are swallowing it hook, line and sinker. I'm just wondering why.

What has cancer got to do with Gcat?

I can't quite understand what the management were trying to do. Share capital is for risk. Loan capital isn't. Why didn't they go for a rights issue especially if the story had credence?

This has been dead in the water since the original loan fell though. Did you really expect someone to put in millions and effectively take all the massive risk for a flat rate interest while shareholders take any profits without putting in any extra money? Shareholders take the risk Loan Companies want safe secure returns usually guaranteed against assets.

As for Robbie he is getting a substantial salary package and the mine hasn't even been operating for months and neither do you know what arrangements have been made with the next owners.

When I made an negative comments in response to statements that were nonsense I was mobbed by a gang of people who must reside in LaLa land.

If you want to filter you press on filter and enter the nickname of the person you want to filter. If you can't do that perhaps you shouldn't be giving advice to others.