If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
Last year, is history. I want to see the Jan - June figures we were promised, that will give us the most accurate picture of where we are....... Magically, the Puno update is no different to that released last Friday. Why isn't the High Court award being chased?? That would at least keep the wolf from the door / buy them some time.... Why an earth would anyone throw more money at this?? even the BOD's latest ventures I.e. toll treatment & acquiring waste mine dumps isn't delivering......
Was this the plan all along?? Loads of negativity from BOD, seek approval from shareholders to issue 3 Billion new shares / 1000% dilution knowing full well that shareholders will not approve, GM located such that few or no shareholders will attend. Debts are called in by Redstone & Chinese, CRND runs out of cash, folds & mine goes to debtors .......... PI's left with nothing again.
They're just not selling the case for throwing another £30million at it.... better to cut our losses now than chuck more money at it without a revised business plan. Whether the cirfcular will provide anymore info is anyone's. And what happens to Puno's 26% stake? do they get diluted by 1000% or will maintain their 26% stake free of charge?? Considering they are both a difficult partner & owe CRND £5.6 million High Court awards + fee's they should be replaced by a new BEP or be made to pay up in return for maintaining their stake.
I've just had a letter this morning advising that another AIM miner shareholding has been dissolved. That's another £3k loss, Noventa since renamed Paragon Resources. My CRND loss will be much bigger. What are the options if we vote against the issue of 3 Billion new shares? Will they be forced to sell the mine & is there any likelyhood they will return any cash to shareholders Where's Gibbo ??
At least if Kim Jong Un dropped a nuke in the under ground mine, that's one way of getting the water & gold out.....
I think that's the plan, then the BOD won't have to face so many angry mob of investors in Guernsey. If our tirelessly working BOD are so confident this final £30million will finally build a profitable gold mining business & create shareholder value. I would like to see them put their money where their mouths are and commit a sizeable chunk on their cash to buy a large quantity of these 3 billion new shares....... Failing that, just sell the main asett to someone who can & return some cash to long suffering shareholders that have clearly been led down the yellow brick road!
How much will Simon & co be chucking in the pot?? Still no advance on when awarded funds will be fort coming from Puno. Will the circular include what the £30million will be used for. What guarrantee's do wee have that this £30million will be enough??
1000.56 dilution, might as well go to the wall. Without us putting more of our hard earned cash in to this we're rogered anyway. What happened to needing £20million & financing unlikely to be forthcoming instead selling CRND's main asset???
If they don't release accounts to comply with AIM rules they'll be delisted with or without a NOMAD.
AIM is rubbish, it gives us PI's little or no protection to be fleeced.... I'm steering well clear going forward. Going to switch to value & income investing in quality companies. I don't think we'll see the promised results today, just a gut feeling.....
Has fallen a further 1.5M, @ 8th Oct level now stands at 169.78 MBS
I've had an new email via ADVFN: AIM Nomad Register Change - ZAI Corporate Finance Ltd 10/10/2017 6:15pm UK Regulatory (RNS & others) Central Rand (LSE:CRND) Intraday Stock Chart Today : Tuesday 10 October 2017 TIDMARGP TIDMCRND TIDMCLP TIDMEQT RNS Number : 2473T AIM 10 October 2017 REMOVAL OF NOMAD STATUS BY THE EXCHANGE This announcement is made pursuant to Rule 32 of the AIM Rules for Nominated Advisers ("Nomad Rules"). Pursuant to Nomad Rule 11, the Exchange has determined to remove the nominated adviser status of ZAI Corporate Finance Limited ("ZAI") for failure to meet, on a continuing basis, nominated adviser eligibility criteria as set out in Nomad Rule 2. ZAI will be removed from the register of nominated advisers at 7am 19 October 2017 so as to provide additional time for those AIM companies for whom ZAI currently provides nominated adviser services, to appoint a new nominated adviser. Accordingly, the affected AIM companies must appoint a new nominated adviser by this date. Pursuant to Rule 1 of the AIM Rules for Companies ("AIM Rules"), if no new nominated adviser is appointed by 7am 19 October 2017, trading of the relevant company's AIM securities will be suspended on that date until appointment of a new nominated adviser. If a new nominated adviser is not appointed within one month of suspension (by 20 November 2017), trading in the company's AIM securities will be cancelled pursuant to AIM Rule 1. AIM Regulation will liaise with the relevant AIM companies in respect of their plans and in respect of those companies, will provide to any nominated adviser engaged by 19 October 2017 an expedited process allowing extra time to undertake full due diligence. Any queries should be referred to AIM Regulation at: aimregulation@londonstockexchange.com The Nomad Rules can be found at the following link. The AIM Rules can be found at the following link. AIM Regulation This information is provided by RNS The company news service from the London Stock Exchange END CNROKKDNABDDCKD (END) Dow Jones Newswires October 10, 2017 13:15 ET (17:15 GMT)
It's been suspended since May.
It depends whether they can survive in the present form for any length of time on their 'thin working capital' whilst they recruit a new CEO. If they can, and they can get someone in with a fresh approach / turnaround plan then who knows.....
Maybe they do transport the gold by Helicopter, in order to reduce the risk of a robbery if transporting by road. 2320 Troy ounces is only 72 KG's over a 6 month period
Trollip going was spot on, but I can't seem them allowing her to work her 3 months notice if she's been caught with her her hand in the pot as implied....
It's looking that way...... The water level data is provided by TCTA & is their responsibility, however, I'm surprised with figures showing a dramatic drop / large monthly falls over the summer months that it took 9 months in to 2017 for the error to be corrected. Doesn't anyone from CRND ever go & inspect the mine / water level for themselves??
They said recently the concentrator circuit would be up & running by Decemeber (8 weeks ish) to continue as they have been during a strike with 'thin working capital'. They'll never be able to sell anything if the S.A rumoured Lola ressignation / fraud investigation / stripped of mining rights has any truth....
Interestingly... Lola Trollip's name isn't mentoned at the bottom of the today's RNS as the contacts in Central Rand Gold, where it is on all other RNS's........ Here we go again!
Gibbo, if you happen to email Simon in the near future would it be possible to request an update regarding the Puno High Court award & timescale / prospect of recovering the monies awarded be issued with the results? The Company's subsidiaries, CRGSA and CRGNV, awarded ZAR72,326,573 (approximately US$5,684,420). The Company's subsidiaries, CRGSA and CRGNV, awarded all legal costs relating to the application, which is still to be determined as the Courts still need to tax the accounts. Whilst the above wouldn't wipe away all the debt, it would certainly buy them some time / working capital whilst the BOD explored all opportunities rather than having to do a fire sale of the main asset.