Crusader Resou. Share Discussion Threads

[jotoha2] 14/10/2022 09:09

Must say what a very pleasant surprise to get $70,000 AUD from the tie up with Golden river , not a disaster. after all .

[the_debt_collector] 01/3/2019 10:36

Marcus Englebrecht resigns and Crusader de-lists from AIM in under 12 months.

Another disaster !

[novicetrade68] 30/1/2019 09:26

Proposed cancellation, that must have been the quickest exit on AIM ever? These guys probably thought they were Randgold Executives and deserved to be paid accordingly.

[the_debt_collector] 29/1/2019 16:55

A requisition has been called by CAS shareholders in Australia - one of the motions is to remove Marcus Englebrecht from the Board of CAS.

[jotoha2] 21/12/2018 08:52

So what are the rules in regard to selling (assume) shares when they are suspended .

[romeike] 21/11/2018 01:36

Their nominated adviser quit so basically they are going to have to de-list from the AIM market soon unless someone else is prepared to risk taking them on. It really doesn't look good. Whatever happened to completing the BFS in Q1 2018 - nearly December and they still haven't achieved anything. Looks like the government is going after them too for possible environmental violations at the Iron Ore mine.

[andy] 31/10/2018 09:49

AUS $231,000 left at end of September, so running on fumes but for the loan facilities!


Let's hope the creditor keeps up with his repayment schedule!

[romeike] 30/10/2018 11:26

Is it true that Crusader is now insolvent?

[jotoha2] 01/10/2018 22:26

Really quite amazing how companies are able to float like this , difficult to see how the providers of the monies made any cash here , is the system really that corrupt !

[andy] 01/10/2018 17:30

Corporate expenses $2.8 million!


I guess they pay themselves well and don't sit at the back of the plane!


And they spent a whole $32,000 on exploration, so they really were trying!

[the_debt_collector] 01/10/2018 10:01

Suspended pending clarification of financial position.

Could be a record for a AIM Co, listed in April bust by October.

[the_debt_collector] 27/9/2018 20:53

Significantly increased losses for half year

[the_debt_collector] 27/9/2018 20:46

Heading for the rocks

[the_debt_collector] 14/9/2018 09:43

The interim statement shows exactly what is wrong with this company.

$3.5m paid out in Admin & Corporate expenses (inc Director salaries) only, wait for it, $32k spent on exploration.

Nailed on shortly, a Novum placing, massive dilution ahead.

The company has been a directors gravy train for years.

[jotoha2] 14/9/2018 07:48

So they raise a small amount of cash and then manage to blow the bulk of it on corporate cost's , now what exactly are those , balance sheet looks shiiiiite , nearly $70 million blown from start , Directors clearly went to the Nick Cooper school of accounting !!

Should be retired asap .

[romeike] 10/9/2018 14:55

Yes quite spectacular really. Will be interesting to see what further damage Engelbrecht can do.

[observer007] 10/9/2018 06:58

Had to take a look in whist passing ADVFN.

You could say the CEO has a poison pill reputation, fired by one AIM Co and has taken both STI and CAS stock prices down by over 50% since appointment, all within 18 months.

Crusader also been censured twice by the ASX within weeks, not good.

[romeike] 04/9/2018 17:49

Let's face it, these guys only listed on AIM because they burnt all their cash raising bridges over in Oz.

[romeike] 03/9/2018 17:12

Burned? No I haven't touched this stock! It's trash!

[the_debt_collector] 31/8/2018 12:51

Another all time low on the ASX equal to 1.25p on AIM

There really must be some doubt whether this company can survive, at the very least equity will continue to be wiped out with ever more dilution.

They have burnt £3m since April, at present run rate they will be out of cash by end September.

Novum as new broker, good luck with that one!

[jotoha2] 24/8/2018 09:29

Sounds like you have been burned here rather badly , pumpers will soon come to this thread !!

[the_debt_collector] 13/8/2018 09:39

They have appointed Novum as joint broker, oh dear!

Already 50% losses for takers of shares in April.

They are in dire need of cash, the ASX asked some very demanding questions ------>>




9th August 2018

ASX notes that CAS has reported:

negative net operating cash flows for the quarter of $1,440,000;

cash at the end of the quarter of $1,358,000; and

estimated cash outflows for the next quarter of $1,300,000.

It is possible to conclude, based on the information in the Appendix 5B that if CAS were to continue to expend cash at the rate indicated by the Appendix 5B, CAS may not have sufficient cash to continue funding its operations.