The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
All the best for 2024
Yeah, definitely looking like the extra pennies on the gold price 'should' help us see this debt off quicker. Zero trades today and it opened level, then went 5.77% up, and now it's 7.69% up with no volume. It's either a general lift by the market makers due to the exposure to gold, or there's a buy going through that will be printed later in the day.
Very much looking forward to the results and 2024 outlook. The drop off in production should be offset by the rising gold price so even if we don't get any additional production this year, the revenue should be decent enough to increase our valuation once the debt is history.
All the best
The price yesterday that was displayed on here was false all afternoon. The Bid being at 2.30p was not an indication of the sell price. A large(ish) buy was printed at the end of the day and it went through at 2.60p which was the top of the actual ask.
Another buy for over £7k was delay printed so 'could've' been part of the other trade. Trading volume on here is tiny considering the amount of shares in issue, so it shouldn't take much demand to move the needle one way or the other.
The more gold sold, the quicker the debt disappears (hopefully forever), and i would imagine other assets are being eyed up elsewhere. I would prefer it if the company concentrated on expanding what they already have access to, but this is AIM and CEOs always seem to want a new toy using debt/dilution to pay for it.
It would be refreshing if they decided to increase the market capitalisation by retaining all the profits from gold sales until the company had approx £30 million cash on account. That would show restraint and financial prudence, and also provide a buffer for any 'unforeseens' that might crop up politically/economically.
That cash could then be used to pay dividends while eyeing up distressed value adding PRODUCING assets that other companies can't afford or need to sell. Cash on the hip can get you very far when other CEOs are being earmarked for lynchings by their shareholders due to mismanagement.
We should have a lot of losses to offset against upcoming profits, so the tax hikes and anything else the government come up with shouldn't be much of a hit to the bottom line here.
See what the update holds in Jan.
All the best
I see school is out because an infantile moron with access to emojis has turned up. I'm sure a 'lol' won't be far away.
Finish your homework.
Sleep
'this is why the instituations and goddard all want shares. They must be very confident.'
It's called mates' rates and forward selling, otherwise known as insider trading that goes unpunished because no regulators give a toss (in the same club-itis).
Pity that our sole client and creditor didn't want any further shares at a significant discount, you know, the client who has a legal right to all the data and knows exactly what's going on. They must NOT be very confident.
Anyway, you can keep 'topping up' your shares at an ever decreasing price (known as consistent averaging loss), I'm sure GR won't disappoint you any longer.
Wonderful, the market are delighted, I'm sure investors and funds would prefer reserves upgrades and drilling campaigns that result in gold being found (unlike the last 6 drills that found nothing).
The bright future will come from getting out of debt, mining more gold, finding extensions that are feasible, and paying dividends.
Let's see where we are when the next results drop. The price of gold has been kind to us in December so this debt should be gone soon.
'Tygra I believe an updated resource reserve report is dropping imminently which would comfortably propel the share price closer to a penny once it is announced.'
This is nothing more than blatant wishful thinking. There is no fixed date for any reserves update, and no guarantee that it will equal a 400% increase in the share price when it does, particularly once another circa 2 billion shares come onto the market at 0.23p.
The reserves are worthless if they can't be turned into sellable product at an economic price. We already have a pilot plant a year overdue that hasn't produced anything other than misery and dust.
The only way this price goes over 1p and STAYS over 1p is with consistent production with no mistakes, failures, snags, breakdowns. Which means it's not going over 1p any time soon.
Let's see what the excuse is when the delay happens, and the precious saviour ball mill isn't spinning sand into SC6 by the end of February 2024.
Pump and Dump101
Nobody knows what Canmax will do because they have yet to comment on the most recent missed deadline. The fact they are not mentioned in the latest disgraceful RNS should be food for thought for even the most deluded of posters on here.
Hence why I said, 'Let's see what Canmax think of this'. I would 'expect' they will break cover soon and GR will have to put out an RNS informing the market what has happened by missing yet another agreed deadline.
I fully expect an RNS saying Canmax have been paid $1.5 million on demand, and that they will require another $1.5 million in the next 3 weeks, or agree to yet another contract revision (in their favour).
Tick Tock. So other than an RNS about the agreement with Canmax, there's nothing happening here for the next 2 months minimum apart from billions more shares hitting the market.
Plus, there's no mention of Canmax anywhere here, that means we should expect at least $1.5 million of that raise will be to pay them when they ask for it. I would imagine they asked for their cash settlement and GR said we can't pay you because we don't have any money left, hence the raise.
Let's see what Canmax think of this.
As expected, yet another farcical cash raise at a heavy discount. So GR has gone from 'this will be the last results that doesn't include revenue generation' to, "we are PLEASED to announce another £2.4 million worth of discounted shares (forward sold for the past 3 weeks minimum) are to be spewed onto the market, along with another £2 millions worth to pay the people who drilled all of that contaminated soil we couldn't turn into SC6".
What's another 2 plus billion shares between friends (and shareholders, GR's biggest...mugs.....sorry....friends). Now all we have to do is wait to see if the new, new, new, new, new mill will do what ALL the previous ones that were DESIGNED for ZULU apparently couldn't.
Yeah, of course it will be spitting out tons of SC6 by late February, what could possibly go wrong.....again.
Wait for the new shares to hit the market, more confetti to sell in large blocks.
Merry Christmas, George Loves You.
The good news in there is that Canmax have not asked for their $1.5 million payment. Naturally, as it's a statement from GR, that doesn't mean they won't because there's no details around what Canmax actually want to do next.
As expected, zero production until Feb at the earliest so there's now nothing to see here now until production starts (if everything works), or Canmax do something that required an RNS.
Snooze button, expect delays.
Morning
Despicable RNS with nothing but failure in every paragraph. The egregious BoD have basically stolen shareholders' funds via 'wages' and urinated over $35 million from placings down the Russian Khazi. Now Nyud is dead in the water unless someone offers to buy the licence off us (why would they when they can pick it up for free when EUA run out of funds).
WK with the wonderful electric dragline that so many idiotic deluded pom pom wavers told us was a 'game changer', is now out of business and mothballed, and the bags of sand are STILL not sold because obviously nobody wants them.
As was so very OBVIOUS, there is no sale of assets coming anytime soon, if/when there is an offer, it will be for pennies and the Board of Cowards will probably accept it and get it through on the nod because they have large share blocks. When all those share certificates become tradable, I would imagine this company will collapse because they obviously need to raise funds by the end of March 2024.
The US Treasury Notes have now disappeared (gone to pay legal fees and wages no doubt), and the mystery loans to subsidiaries is not even mentioned because OBVIOUSLY it was used to progress all the Rosgeo options that have basically bankrupted the company. We mine, produce, and sell NOTHING, therefore the loans that are redeemable on demand from OUR subsidiaries have no cash to pay the parent company back. It's GONE.
Never mind, I'm sure most of the cretins who have been singing the praises of this bunch of crooks will see a 'top up opportunity', and a few more trading Hyenas will pop up to play the stock while the (this is it, we're in blue waters, sale coming) fools, continue to pretend they actually believe they will see their investment back again.
Dead in the Water All Round.
Sack the Board.
Of course the current gas price makes a difference, just as the current base rate makes a difference when the interest on business loans comes into play. If it made no difference then the futures would make no difference because funnily enough, the future hasn't happened yet and models (100% of them) are worthless.
You don't lend millions to a company with one active depleting asset based solely on what some spotty nerd thinks gas will sell for in 3-5 years time. That's called stupidity, you lend based on current performance and what is contained within the field. Lenders need to guarantee there will be enough gas production left to repay the debt over a number of years (and then some for a cushion).
Plus, the gas price is moving down and at some point it will impact profitability, so the risk modelling (also useless but they need to pretend to do it) will add further discounts which in turn will result in higher rates/fees to ANGS. Then there's the main point, the ANGS factor, they are atrocious and fail often. The field is already not performing very efficiently, the sidetrack has cost WAY more than the supposed benefit of doing it in the first place, and it would've been better to not do it at all and just sell what was being produced to pay off Mercuria while the prices were high (ANGS missed all that £6.00 level gas due to technical failure).
Suits and ties will continue to benefit here, and IF a one off debt deal is agreed, it will have massive fees attached and the interest rate will be credit card levels.
Wonder why it hasn't completed yet? (rhetorical)
Jaguarflush
It happens often, it isn't an issue with PREM and a tiny smidge of research would show you that as per below:
"We’re aware that some customers are having difficulties obtaining quotes for UK stocks due to an issue with the London Stock Exchange. We’re sorry for this disruption to our service"
You can get some more ever diminishing golden tickets soon enough once LSE fix the 'deliberate' issue with their platform.
Maybe the silence has been broken behind the scenes and GR has pulled another Force Majeure. Maybe Canmax asked for their money and GR said there isn't any. Maybe we've been suspended and the RNS hasn't arrived yet.
Or maybe it's one of the usual problems with LSE. Doesn't really matter, the only people 'apparently' buying shares are you, Hasiba and a few other people on here who have yet to wake up.
Alarm clock will be buzzing soon enough, big 'top up opportunity' on the way for you and the clan.
Nonsense, it's massively overvalued as it produces nothing to sell and has failed due to technical incompetence and poor quality feed material.
More cash needs raising/spending to access lower levels of dirt containing the better grades. Then again, GR told us he had over a month's worth of feed material at the mine head ready to go, which turned out to be contaminated washed out soil that couldn't be turned into SC6.
Please stop with the (I WANT it to happen so it WILL happen) delusion. Nothing PREM/Stark have done to date has indicated success is likely to be the next RNS here, the opposite of success is the 'likely' outcome.
The fact there is still no RNS about the new, new, new, missed deadline to supply or pay Canmax says it all.
I'll check back when I'm home later but I suspect the silence will continue (or be broken by an ambiguous RNS with a dilution element contained within).