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Golden Saint Share Discussion Threads
Showing 3926 to 3945 of 3950 messages
|Of course diamonds need to be a good size and of gem quality to be cut and polished. You can't polish the small, brown-tinted stuff...Dove explorer washes 200 tonnes per week max. Hand washing at Baja 50 tonnes per week max. So that makes 1000 tonnes per month max washed for both sites combined.At 20 cpht, 1000 tonnes = 200 carats.So even at maximum throughput, they'd only be able to get a sixth of what they need to become self sufficient.GSR are horribly out of their depth.It's only SVS's lack of morals in shafting their clients that is keeping this going. They'll need to screw over a load more clients for the next cash calling in about 6 weeks' time, if this charade is to continue.|
|realist you seem to know the ins and outside so I do take note of what you say.it's either 300 polished or 1200 rough to become self sufficientthere's a lot more behind the scenes, there was much more at baja than what was declared. same goes for tongo. Cyril being sued was the best thing that happened.|
|The lying ex-CEO said 300 carats / month would lead to self-sufficiency. But he has been sued for duping investors with such comments, and everyone knows what a complete disaster his plan to cut and sell diamonds through an exclusive club has been.The only way to get any sustainable revenue would be to sell them rough.So how many will they really need to find just to break even on running costs of $150000 / month? Answer: 1200 carats / month absolute minimum, especially when washing in the dry season.Carats x price per carat - royalties.1200 x 150 - 20% = 150000.The gold is nothing more than a red herring. They sold a few grands worth ages ago, but then got a fine soon after. You're not allowed to just sell your alluvial finds locally without paying the proper royalties and taxes to the government.There are fees to pay when you export, and you can't sell rough diamonds in small volumes anyway, so to be cost-effective you have to wait until you have a parcel of a few thousand carats.They haven't yet rescinded their promise for sales in the second half of 2016 (delayed from the first half of 2016), so they must be finding them in large quantities, right? I hope that wasn't yet another false ramping statement prior to a placing.The next update should be interesting. Having said that, now that they don't need to issue any more confetti shares for another couple of months, they've probably parked their matchbox PR ramping machine for a while.I wonder if their matchbox exploring equipment has the capability of finding 1200 carats per month. Anything less and it will just be back to dilution, dilution, dilution.|
|which is why they are concentrating on the north west corner at tongo. the part retained as part of the license renewal which rfm advised to keephave you seen the aero magnetics? and how it's highly likely neighbouring pipes extend into our block|
|1.3 billion more shares?! Ouch!£400k - IOUs = lights on for another 3 months or so.SVS looking after themselves rather than their clients, who probably don't even know these shares are being added to their 'managed' portfolios.A 50% mark-up is disgusting.|
|well realist there pops up your funding question
one more placing due imo before fireworks ;)
next placing will be at higher sp, around 0.1p mark imo|
|Are you a sharehoder in GSR ?|
|Washing commenced. So time to get excited, right? Err, no.6 tonnes in first wash. Even with the most basic of washing equipment that must have only taken an hour or so, right? No. It took 3 days. So washing the tiny stockpile is going to take the whole dry season then.With such piddly equipment there is absolutely no prospect of washing enough to become self sufficient.And yet absolutely no mention at all of much needed immediate and future funds? Funny that.Something stinks here.|
|you haven't said anything new that pi's are not aware of. time will tell either this delists or ends up multiples of today's share price imo gsr will be fine. going to need one or two placings and the much talked about diamonds will soon appear. my opinion|
|what's new realist?who broke the news of Cyril being sued? and that was 5 months after we were informed. lolofcourse GSR have been running on iou's. I mentioned months ago that workers had not been paid for months but we're working on anticipation of funds being available. they then gain paid after placing and until money runs out.can't disagree with anything you say but things will turnaround. the plan wasn't for svs to get involved but pressure from nomad to get placing done.I guess svs clients are not happy so they are getting another chance to average down. the huge volume in recent days is most likely forward sold shares. no one else is buying gsr. can't see pi's getting involved.|
|P.S. He was successfully sued for the company making fanciful promises and conning investors, in case you were wondering.|
|Sorry, that should read a whopping >900% dilution in 2 years!!!9. They are so far away from sustainable revenue, that shareholders can probably pencil in another 900% dilution in the next 2 years, if they survive.10. As seen in recent days, there will always be large volume sells into any mini share price spike by the previous waves of duped shareholders with higher averages itching to get out.11. Ex-CEO and major shareholder has successfully been sued for millions of dollars in Singapore. He could be forced to dump large volumes of shares and drag the share price even lower, whether his shares are in a Trust or not.12. With all this turmoil, at any stage, they could run out of people foolish enough to take yet more placings, and then it's all over in a flash.|
|All definitely not looking good now.If you are mad enough to hold shares in GSR then here are just a few of the many things you should be concerned about:1. According to the company accounts, they will be insolvent by now and paying for any work in IOUs.2. They have released RNSs without highlighting this perilous financial situation to investors. Deceitful at best.3. Any imminent placing will not only be worth less nowadays when converted from pounds to dollars, but a large chunk of it will also have to be used to pay back the IOUs, instead of being used for future work.4. The fact that they have waited until the absolute 11th hour to raise much needed funds means they must have been lacking any mugs foolish enough to take them up on a placing.5. You are mistaken if you think restarting washing = progress. They have restarted washing several times in the past few years. Each time found a couple of diamonds and got excited, but never in high enough concentrates to mine and never enough to achieve any revenue. To date they have not sold a single diamond that they have found. Even ones they found nearly 2 years ago.6. As recently as 2 years ago they had 400 million shares in issue. Now it's well over 4 billion. They issue shares like confetti. > 90% dilution in 2 years, and more to come.7. They have got such piddly machines that it's impossible to do any meaningful bulk sampling. The high running costs of the company burn through any cash from placings before any work on the ground has a chance.8. Some of the "diamonds" found in the latest washing were almost black in colour. It seems they are loosely using the term to pad out recovery rates. Again, deceitful at best.I'm afraid yesterday was just the next wave of unsuspecting "investors" being suckered in by the companies' fanciful promises, without doing any proper research.They will soon learn their lesson.|
|All looking good now:-
"Golden Saint Resources Ltd soon to begin gravel extraction and washing in Sierra Leone"
11:11 01 Nov 2016
"Golden Saint Resources (LON:GSR) CEO Keng Seah updates Proactive on two of the company's licences in Sierra Leone."
"He said the work on building the vehicular road access to Baja Site 2 has been completed."
''That project has been completed and we're happy with what we saw and now that the obstacle has been cleared it now allows us to bring our washing equipment to the site where the stockpile is'', Seah added."
"On the Tongo licence, Seah said the water table in alluvial mining site 1 has subsided to a sufficiently low level, allowing water to be pumped from the designated pit, which is currently filled with water as a result of the recent wet season."
"Keng Seah said: ''Completion of this exercise is expected in about a week, with the beginning of gravel extraction operations, at site 1, during the first half of November''.
"Golden Saint has also been streamlining its service providers and reducing costs. From next January SVS Securities will become the sole broker to the Company."|
|very good prospects now, see below:-|
|GOLDEN SAINT RESOURCES OPERATIONS SET TO ADVANCE IN NOVEMBER
[ 31 Oct 2016 15:24 ]
"LONDON (Alliance News) - AIM-listed diamond and gold exploration company Golden Saint Resources Ltd said Monday it will begin gravel extraction and washing at two of its sites in Sierra Leone in the first half of November."
"Golden Saint said that washing operations for the stockpile of ore at its Baja Site 2 in Sierra Leone are expected to begin in the first half of November, now work on road access has been completed and equipment is being transported to the site. The company said it will also look for further sites in Baja for gravel extraction."
"Golden Saint also said the water table at its Tongo site has subsided to a low enough level for its designated pit to be pumped out, with gravel extraction slated to begin in the first half of November. The company said it will carry out washing at the site once sufficient gravels have been excavated."|
|Self-sufficient in 3 months, diamond sales in Q2, dredging in the wet season, road built in 2 weeks. The list goes on. Constant empty promises from the company in a blatant attempt to pump the share price and dupe investors.This sort of conduct should not be allowed. They will deserve to go bust.|
|CFO doing yet another staged ramping interview, less than a month after the last one? These must be desperate, desperate times.The company must have realised that their comical placings merry-go-round would eventually run out of punters. It looks like that time is now.Not long before this delists.|
|There we have the random ramping interview signalling an imminent placing.They must be getting desperate now.|
|hahah, what happened DG?
thought you could buy at 0.05 and sell quickly, u locked in now?