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EGS, EASTERN GOLDFIELDS LIMITED
alonso
post Posted: Oct 13 2017, 09:18 AM
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In Reply To: blacksheep's post @ Oct 12 2017, 04:48 PM

Yes, if they're all lies, as some people would have it, they are at least big lies that will be difficult to walk back from.



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"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith
 
blacksheep
post Posted: Oct 12 2017, 04:48 PM
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In Reply To: blacksheep's post @ Aug 22 2017, 11:15 AM

Seems there might be a bit of life in this one yet?

QUOTE
Corporate
The Company advises that it is currently progressing with a number of corporate
activities, in conjunction with its broader operational and financial review, including:
1. Finalisation of 2017 financial year audit. The Company expects to release its full
year results on 20 October 2017. Pitcher Partners have been appointed to assist
with financial reporting, and provide advice on R&D rebate claims and tax
.
2. Completion of the Company’s 2014, 2015, 2016 and 2017 R&D claims, with
lodgement of the first three years’ expected next week. The claims are expected
to total $5M to $6M, however the Company is continuing its evaluation of the
claims and believes there may be scope to increase the claim amounts.

3. Diesel fuel and GST rebates totalling $2.84M have been received for the period
ending 30 June 2017. Returns for the quarter ending 30 September 2017 will be
completed by late October 2017.

4. Gold sales since mid-August 2017 total $1,731,618 from 1,056 ounces at an
average of $1,640 per ounce. A further 11.45kg of dore was poured on 9 October
2017 and delivered to the Perth Mint representing gold stripped from
September production. Further gold in circuit (GIC) remains as the baseload GIC
stocks created during the commissioning period.

5. Board and management review well advanced, resulting in shortlist of potential
CEO/COO candidates to manage day-to-day operations with an appointment
expected by November.

6. Capital raising initiatives at an advanced stage to provide additional working
capital during production ramp up with New York based corporate adviser
mandated to manage capital raising activities; and

7. Liaison with the ASX regarding the reinstatement to quotation of the Company’s
securities.

Operations
Processing Plant
The Company is pleased to report that 70,500t @ 1.15g/t (unreconciled) of ore milled
has been milled at Davyhurst to date. The mill processed a blend of commissioning stock
before progressing to a blend of low grade stock. Plant performance continues to
improve, reaching a stable 120t/hour (wet) with maximum uninterrupted run time in
excess of four consecutive days based on 85% daily utilisation (or maximum




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 22 2017, 11:15 AM
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In Reply To: blacksheep's post @ Aug 17 2017, 07:35 PM

Couldn't pay contractors on time and now haven't paid its annual listing fees on time!!! thumbdown.gif




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 17 2017, 07:35 PM
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In Reply To: blacksheep's post @ Aug 16 2017, 09:25 PM

EGS/Davyhurst lives to fight another day

QUOTE
WINDING UP TERMINATED
HIGHLIGHTS

 Order made by the Supreme Court of Western Australia to wind up
Eastern Goldfields has been set aside. Accordingly, the winding up
process has been terminated and the Company is returned to its
Directors.


 Eastern Goldfields will provide a detailed update in relation to the
Company’s financial position, operations and management in due
course.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 16 2017, 09:25 PM
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In Reply To: blacksheep's post @ Aug 16 2017, 10:37 AM

QUOTE
According to a statement on Wednesday from Investmet, Fotios' investment company, Genalises was paid on Tuesday and he's now negotiating to set aside the court-appointed liquidator. "It is not anticipated that Eastern Goldfields will remain in liquidation and is expected to come out of suspension as soon as the legal process is resolved."

Another hurdle looms, with another of Eastern's contractors – GR Engineering – going into a trading halt on Wednesday as it decided what to do about its own pending case against the gold miner. Then there's another wind-up application – from Deloitte Tax Services – being heard in the WA Supreme Court on Septe
mber 7.

Read more: http://www.afr.com/brand/rear-window/easte...u#ixzz4putY4500




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 16 2017, 10:37 AM
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Posts: 6,791
Thanks: 2305


All over by looks of things...

Eastern Goldfields Limited
SUSPENSION FROM OFFICIAL QUOTATION
QUOTE
The securities of Eastern Goldfields Limited (the “Company”) will be suspended from official quotation
immediately pursuant to listing rule 17.3, following the Supreme Court of Western Australia ordering that
the Company be wound up and that a liquidator be appointed to the Company.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 

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blacksheep
post Posted: Aug 10 2017, 10:51 AM
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In Reply To: blacksheep's post @ Aug 9 2017, 12:19 PM

Information Correction issued re inaccurate media reporting

QUOTE
Eastern Goldfields Limited (ASX:EGS) (“Eastern Goldfields” or “the Company”) has today
confirmed that Mr Michael Fotios is expected to remain Executive Chairman of the
Company for at least 12 months, following inaccurate media reporting after his Diggers
and Dealers Presentation on 8 August 2017.

The Company confirms that it is searching for a CEO to take over the day-to-day running
of Eastern Goldfields, and that the CEO would likely move into a position of Managing
Director in time. It is anticipated that this would be a 12-18 month process, at which
time Mr Fotios would step back from his current position of Executive Chairman and
move into a Non-Executive Chairman role.






--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 9 2017, 12:19 PM
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In Reply To: blacksheep's post @ Aug 8 2017, 04:08 PM

SP still on the way down - 5.88% so far @ 24c - meanwhile......

Diggers and Dealers: Eastern Goldfields pays up to stop talk protest
Stuart McKinnon and Josh Chiat
Wednesday, 9 August 2017 10:26AM

QUOTE
Michael Fotios’ Eastern Goldfields has made a series of last-minute payments to contractors owed money by the company to stave off a planned protest ahead of his appearance at the Diggers and Dealers Mining Forum in Kalgoorlie.

A group of Kalgoorlie-based contractors who had worked on the company’s Davyhurst project had threatened to overshadow Mr Fotios’ presentation at the conference, where he sought to inform delegates about his company’s gold mining plans for its portfolio of projects north of Kalgoorlie.

Embattled Mr Fotios announced his intention to stand down as executive chairman of Eastern Goldfields, but will remain as non-executive chairman.
The company will appoint a new chief executive to run the company on a day-to-day basis.
....................................see link for complete details

https://thewest.com.au/business/diggers-dea...t-ng-b88562117z
Attached Image





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 8 2017, 04:08 PM
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Posts: 6,791
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In Reply To: blacksheep's post @ Aug 4 2017, 11:21 AM

A two day trading halt for this??? Seems to me the TH was more a holiday period to get past the D&D protesters event.

QUOTE
DAVYHURST EXPLORATION AND OPERATIONS UPDATE
HIGHLIGHTS
 13 drill holes completed at the Riverina gold deposit, within which
visible gold has been intersected
Assay results pending for both Riverina and Callion
Processing plant achieving prolonged uninterrupted production
periods
, nearing a stable state

Attached Image





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 7 2017, 12:09 PM
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In Reply To: blacksheep's post @ Aug 4 2017, 10:34 PM

Perth deal-maker Michael Fotios faces Diggers and Dealers protest from contractors
Stuart McKinnon
Saturday, 5 August 2017 11:00AM

This article alleges employees are also owed money. Might be a rough ride tomorrow coming out of the Trading Halt
QUOTE
In a statement, Mr Fotios said Eastern Goldfields had paid the two contractors that were believed to be the organisers of the proposed protest.
“Eastern Goldfields would like to assure its contractors that they will be paid for the work they have completed,” he said.

WestBusiness has also spoken to several employees of Eastern Goldfields, who claim they are owed money by the company but fear going public will undermine their chances of being paid.

One worker said some of his colleagues had missed child-support payments as well as payments on home mortgages and car finance because they had not been paid.
“People fear that if they complain, they’ll go to the bottom of the list, yet the company is still interviewing people for new positions,” he said.

Eastern Goldfields said it was not aware of any outstanding claims from employees but was investigating and asked those affected to make contact.

https://thewest.com.au/business/diggers-dea...s-ng-b88558430z



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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