Member Info for wasarunner

Banjo Geezer is correct on some level though the irony that he is now arguing thr case precisely that I put to him a year ago is amusing! Goldstone is worth something if you agree that with their balacce sheet that there actually 1. Is gold in the ground worth something that 2. Can be mined viably. I pointed out a year ago that because they hadn't demonstrated they could mine anything viably and had a metric ton of debt, the company was insolvent. Now, they haven't restructured the debt, have raised some $ from a mystery investor (anyone know who that really is yet?) but far as I can tell so far this year they haven't demonstrated that they can mine anything, so at the moment I agree with Geezer. Except he's now agreeing with me because I haven't flipped my position in a year!anyway as before hope I'm wrong etc.

Banjo I don't check it every day :). You never know one day I'll check in and there will have been some good news! The point on the remuneration is quite an important one - as a 'producer' of gold for many years now, the BOD/Emma's raison d'etre is share price appreciation. It's nearly the only thing that matters. So their alignment should be with that. The fact they can issue lower than they did last time, and in the intervening issue say circa 1bn shares (inc options) to keep the ship afloat, not only diluting shareholders but also decimating the share price in the process is.....well......not good obviously. But hey ho options at 1.25p it is. Wonder if they'll be in the money one day.

>>The award of the Options represents the first issuance of share options by the Company since August 2024, and the Board believes that it is essential for the Company's directors and senior managers to be suitably incentivised to drive the business forwards and to further align their interests with those of the Company's shareholders.

Here's an idea, why don't the directors and senior managers put their own cash up, like investors do? Skin in the game? It's a no risk game for them - some options now, then they lapse, issue lower next time. Skin in the game means you take a loss if you underperform - which is how it should be. They'd be doing it with salaries they gained by obtaining further debt to the company and diluting it anyway so it's free money to them.....

Well one thing you now know - the board are suitably incentivised over the next 5 years to get the SP to above 1.25p. f me. Cancel the 2p options (that's obviously a target too far right) and issue them lower. What a s show.

No I sold it all. Whether that was a good or bad decision time will tell, from memory I got between 0.9-1p after re-list and the share price nearly 2 years later is back to the same level. For me once trust is gone it's hard to put your money back into a company, I'd want minimum EP gone, she's been very sparing with the truth. My other gold investment is doing ok so fingers crossed something comes of it but I definitely missed making money in the gold going from $1.xk/oz - $5k+/oz move which is a shame because I could kind of see it coming. Probably should have bought physical gold or something with the money and put it under a mattress. Good luck by the way, I'm happy to be wrong on this one as I said on my previous post it's a hard game to get right maximum respect to those who manage it.

Right and he also doesn't know he needs to TR1 when he acquires 15% of the company right? ;) I think these guys are laughing at you all the way from the EGM. I mean sure, he has seen the company evolve since 2017, he can see the $10m debt pile which probably ranks ahead of the equity he's putting in, he has no contact or any knowledge of what AIMSL intention is other than they've pushed the debt out a bit longer with probably an option to convert another tranche of equity later for the interest and........yes that sounds like a really sound business case for a £2m+£2m investment. Of course it does!

It might be genuine investment and it might be unconnected to AIMS but I'll wager they know more than people here to put the money up. Apart from anything else he'll have seen the last guys who put in £m lose their shirt on the investment and take a big haircut about a year ago! And after that he wants in. hmmmm.....

I think all is not as EP says it is. So far in the history of following this company that assertion has come true about 100% of the times.....so yeah, I think the 200m share issue with 200m more to come is a game to get Paracle out, PIs are then defenceless because the combined entity controls the company. That's what I think. Only time will tell though. If the stock market don't even mandate that they declare who the new 15% owner is, how can the stock market review whether it is indeed the same as the 29.9% owner.......

Or you don't worry enough it's definitely one or the other! Looks fishy to me...the mystery 200m shareholder but wtfdik

Ok that does seem to be mirrored on a number of sites. So assuming they're issued, it's just the identity of a major holder (15% presently, with an option to buy another 15% - oh look, that gets them to around (it'll be under of course) 30% with the options. hmmm.....who could it be, if only the disclosure rules of LSE forced them to tell us! They + AIMS (once AIMS convert their next tranche of interest) will own 60% of this 'listed' company.

The point is the EGM ratified the number of shares, ie the company agreed 'we will issue these shares'. But did the stock market list them? At that point the trail goes dead. I also thought the TR1 was mandatory, you've got a new whatever 10% owner of a listed AIM company and we have no knowledge of who it is? They're meant to declare at every 1% crossing above 3% here they've bought a great chunk of the company and we've no idea?

From my perspective it looks like the shares were simply not issued, and maybe in that scenario an RNS is not required, but the ambiguity is intriguing anyway. I had also thought maybe they're just late but a few days late is one thing this is now a week after the ETA.

In the worst case, there was a problem with the listing (I expect there wasn't, but putting it out there) and the shares aren't listed. It's super weird that there can be a different number of shares in issue in a company listed on a stock exchange that doesn't match any authoritative sources of the number of shares (like, the company website, like, the stock market pages). If someone can point me at an LSE page detailing the number of shares in issue I'm super happy to be corrected on this one. I know companies don't need to update more frequently than 6 months which is why it's really important with the additional shares that we know what the number is?

Banjo - I would think it's a regulatory requirement and not something you publish at the egm. So LSE should be telling us what the issued share count in a listed company is surely? Well what is it? I can't find a source other than an RNS saying 'it will happen' or some EGM minutes saying it will happen. When it's admitted to market my understanding is an announcement follows 'x shares were listed on y date making the enlarged capital z'. We haven't seen it, or the TR1. It's opaque as anything but that's AIM for you - it's probably a requirement just GRL didn't bother with it.....we'll find out in 6 months when they update their webpage per AIM rule 56.

WHere is it? Last I see is this:

"Application has been made to the London Stock Exchange for the New Ordinary Shares announced on 21 January 2026 and the Additional Adviser Fee Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on or around 10 February 2026. The Additional Adviser Fee shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the Company's issued share capital will comprise 1,325,830,114 Ordinary Shares, each with one voting right. The Company does not hold any shares in treasury. Accordingly, the total number of voting rights in the Company will be 1,325,830,114, which shareholders may use as the denominator for the purposes of calculating their interests under the FCA's Disclosure Guidance and Transparency Rules."

So admission was expected 10/02 - did it happen? If it happened, and given it was a zillion new shares, I would expect this to be updated no?

https://www.goldstoneresources.com/shareholder-analysis/

That page still says 949m shares as at 20/01.

Finally, if there is a new 10%+ shareholder, who are they? Where's the TR1?? Asking for a friend.

Unless I missed it we don't know if the shares were admitted, or who the new investor is? The EGM said on or around 10th Feb - so announcing admission now would be late (not like Goldstone to be late?). I'm curious who the new investor is, has to be aligned with AIMS IMO and not Paracle and they will have to TR1 when admitted, surely? Wonder if the delay is just an admin issue or if there is something more meaningfully wrong, it's unusual not to announce the admission (or if it is delayed, announce the delay). I note in the meantime they sacked the dodgy director but still, this is a pretty big announcement to hold back on?

Well it's $5k/oz so if it works out, it's going work out well for you guys! Good luck and I mean it. I'm hopeful to be successful on the other goldie I invested in but lets see. What's super annoying is that since I invested in goldstone gold price has tripled and the shareprice has collapsed >90%. So the theory was right the execution was wrong.

No don't trust EP :) but as a trade it's certainly tradable!

I do get the point about Paracle being able to potentially block it at EGM. Will be interesting. If the parties are finally agreed then with a split shareholding maybe it would succeed. But AIMS still ahve an enormous amount of debt and as EP keeps halving/quartering annual estimates it will take many years of piddly production to ever pay it back. So it remains risky even if the intention is honest.

Quick maths and so it may be wrong and/or the website info out of date.

AIMS: 144m new shares + 249m old shares = 393m shares for their new 29.9999999999999% holding

mystery investor: 200m new shares for their 17% ish holding

mystery investor converts another 200m new shares, probably 30% shareholding of the enlarged shareholding

at that point AIMS convert a few $ accrued interest into shares

Presto: the two units hold 60%.

You'll know after EGM anyway because at 17% they'll have to declare. Paracle have just about too few shares now that 17%+existing shares wouldn't put them over 30% so it's possible. But my bet is it's (really) AIMS, and when the warrant exercise they own 60% and the show.

It's tempting as a trade - but I don't trust EP enough :) good luck those that do!

Well if it helps - as we approached year end I considered buying a few because the company seemed in a paradox - as a trader, I think it made sense to buy (on the chance that, as they've done, stay of execution). It was priced to fail. I would only have put a small amount in and, being not a trader, in the end didn't. It was obvious even the stay of execution would get a rerate with any better news a bigger rerate. These are the events traders look for which is why they come in before/after news to try and pump it

Instead I put my money elsewhere and I hope it works out - I went asx/psl where they're drilling next to Greatlands plot. Hopefully it works out. I remain very bullish on gold (this is my first gold divestment since GRL debarcle), very bearish on EP here, but as always, I hope you guys win, it sucks to lose, I wouldn't wish it on anyone. What we can all agree on long may the price of gold rise, and I don't think there's that much chance of a reversal with the Big Orange in charge over the pond. GLA

Oh and if my theory is right they probably need it above 1p to execute the masterplan which of course means, a win from here and for anyone who bought less than 1p. But that does not a long term 'investment' make.