Member Info for Thenorseman

Boromad

« What is it about some punters on here clearly not invested and happy to turn up day after day with negative comments and posturing. For what reason and what do you get out of it? »

The answer is ATTENTION!

These are the guys you meet at work (or maybe a grand uncle) that talks and talks and knows everything and that nobody like….so are not really invited to (family) party’s …. But we are a captured audience…..that’s why the WSBNTelegram Group is great!

N

Maybe Ed Mead and DL are too busy with their other adventure (RiversGold up at Kalgoorle). RP is not a geology guy so who is going to update ?

Arch

Well said.

I was thinking the absence of info now could be they now have SOME information (good or bad) and cannot say ANYTHING, not to risk putting themselves in a difficult position.

So we must be very close (heard that before? :) )

N

Cash

It helps :)

N

Cash

Are you invested here?

N

Looks like Ed Mead and DL are to busy up in Kalgoorlie with their other business.

ChartaRex

If you bothered to read the RNS fully: It says clearly «The expanded group will be in Africa but it will retain Wishbone's valuable assets in Australia.»

Try to be more accurate with your rubbish!

N

Manifesto if you have shares in WSBN you could always show up at the AGM and vote the management off as would be your right to do. If you have NO shares in WSBN this is none of your business anyway so why are you here?

N

ChartaRex

I cannot find that it is any easier to run a company in Australia from for example London than from the Middle East (Dubai)? Please explain.

The proposed reverse takeover stated that «The expanded group will be in Africa but it will retain Wishbone's valuable assets in Australia.» Where did WSBN say the assets weren’t viable? ? Please explain! At the time WSBN market cap was less than one million and as we all know raising money on AIM has been very difficult for resource companies and was the reason for the reverse takeover. Today that’s sorted as we all know.

Retiring at 40? You must have been grossly overpaid and should not complain about other people’s remuneration!?

N

Paul, previous years WSBN AGMs were also held in Gibraltar. Nothing wrong with that.

N

You mean TRP that are drilling into a tiny structure they have tried to farm out for near 10 years only to manage to lure in a Pakistani small company in the end now? No one else interested! Probably because chances are flow rates will be modest?

Good luck with that

Stop insinuating stupid stuff Naff just to try to cause panic.

What are you doing here anyway?

N

…you were the chairman and CEO of WSBN and you for some reason wanted to crash the share price.

I think I would stop talking about the Red Setter Gold Dome and begin talking about poking drill holes everywhere else (diorite here and diorite there) , causing panic amongst the existing shareholders that would think the initial results from dome drilling are bad. Then I would issue an RNS on plans for reverse stock split …something that for sure will crash the share price even more.

The last RNS didn’t once mention the word «dome»!

Can’t wait for the next RNS …

N

Sanguine83

That quote is from the 4th December 2023 RNS and not relevant now!

Kind regards

N

Mentalmax agree but the fact that they seem so keen to talk about everything else than the dome has been worrying investors and WSBN don’t seem to understand.

“The current drill program, with two rigs in operation, has been designed to test new targets….”

Sitting on millions of shares and haven’t sold one. But with a steady flow of these confusing RNSs coming out trashing the share price I’ll wait a bit longer to buy more. 0.65p is half the latest placing price so must be a good number. Should not take too long:)

N

I hope WSBN has common sense and release the assay results in the morning before market opens so investors can act accordingly. RNS during the day is day traders dream as they do nothing else and can act immediately. Us normal PI have a day job to do so cannot watch the screen all day!

Thats my view anyway!

Kind regards

N

Aquak

I strongly disagree. GEO sent their cores off for assaying some weeks after us saying results in December! So the story holds still that WSBN are still waiting for the results….but not for too much longer.

Kind regards

N

Boromad

Thank you for the link!

Kind regards

N

Core photo of unknown drilling site. But could be RedSetter!

X fingers

https://www.linkedin.com/posts/core-drilling-services_coredrilling-diamonddrilling-mineralexploration-activity-7393806771234148352-7Z0v?utm_medium=ios_app&rcm=ACoAACI_1n8ByPPffbi7YiTSf1uKTSJv8a58UBc&utm_source=social_share_send&utm_campaign=mail

From chatgpt: «A reverse stock split is generally perceived negatively by the market, as it can be a sign of a struggling company. While it artificially boosts a stock's price in the short term to meet exchange requirements or improve image, it doesn't add value and can lead to decreased liquidity and investor confidence. Whether it is good or bad ultimately depends on the company's future performance.»

—-

So why do it?

WSBn explains: «Purpose of the Capital Reorganisation

-The Company’s issued ordinary share capital currently consists of 3,022,586,460 Existing Ordinary Shares. As

a result of the number of shares in issue, which is significantly higher than many companies whose shares are traded on AIM and AQSE, the Board believes that the low share price affects investor perception of the Company and share price volatility. Further, as a Gibraltar incorporated public company the Company is unable to issue shares for less than the nominal value of its Ordinary Shares. Accordingly, the objective of the Capital Reorganisation is to reduce the number of Existing Ordinary Shares to a level which is more in line with other comparable AIM-traded companies with the intention of also creating a higher share price per ordinary share in the capital of the Company. The Directors believe that the Capital Reorganisation should improve the liquidity and marketability of the Ordinary Shares.»

——

My view: I can only consider what WSBN explained. With the current share price of 1p being 10x the current nominal value of 0.1p I am at a loss to understand this reverse split proposed by management. Would think they had plenty of more important things to consider in the middle of this expanded accelerated drilling campaign at Red Setter ?! One (far fetched but) possible explanation is that they want to buy another small company to secure a revenue stream to not having to be forced into a JV on bad terms with a large company to develop Red Setter, and will have to issue a lot of new shares (possibly taking them close to the 0.1p nominal value). A company that very soon will produce gold and have a revenue stream for example one led by D. Lenigas and which is already listed on ASX???

You never know:)

N