Greg Kuenzel - GEO has no cash Wow what a lovely new website. Perfect to hide past failures and promote new BS to would be retail punters."Georgian Mining Corporation is well positioned to deliver on its objective of becoming a copper and gold producer"- With less than £200K in cash at the end of June 2016, hardly well positioned?Equity placing coming 0.08p or lower, which will massively dilute existing shareholders since the consolidation. Greg has buried information about his years of failure with the alleged "Bonanza" Austrian assets: "The Company has a non-core gold exploration portfolio in Austria which includes the historic producing mine at Rotgulden as well as the Walchen Copper Gold VMS Project. The Company is assessing the optimal path to realise value from these assets, potentially via joint venture or other value accretive transactions." - Potentially. Hmmm Aussie BS for nobody's interested.
Greg Kuenzel NMG/GEO less than Â£200k cash With less than £200k cash at the end of June 2016, when can GEO's (NMG) long suffering shareholders expect more major dilution from Greg Kuenzel's next equity fund raise? And at what price? 6p (0.06p)? With the sophisticated investors forward selling and flipping the shares down from 9.8p (0.098p)? Nobody else will fund this poorly managed company. Greg needs more cash to reward himself and fellow Directors (expect another 18% pay rise and more cheap shares) and perhaps some more drilling. Gregg seems no closer than he was over a year ago to proving up JORC resources in Georgia. The company's focus now appears to shifted from Austria and gold mining to copper mining in Georgia. But with copper at a four year low and peers (Nyota Minerals) relinquishing their copper licenses is there any hope of Greg Kuenzel delivering anything but a similar loss to the one made this year (nearly double last year's loss)? Don't forget to show your appreciation for Greg Kuenzel and the other Directors by not bothering to vote against the Directors Renumeration report at the AGM in May/June. The company has a new name and new focus but badly needs a new Managing Director who doesn't have the vision nor capability to take the company forward and increase shareholder value.IMHO. DYOR. Good luck all genuine investors.
Greg Kuenzel, Noricum (has no) Gold Well Greg Kuenzel appears to be running out options to keep his gravy train, Noricum Gold, going.A change of name to the Georgian Mining Corporation, may finally be signaling there is little mineable gold in Austria or Georgia. It would appear Greg Kuenzel is desperately turning to his next pipe dream of mining copper. But with the price at a four year low, can this really be a profitable strategy?Long suffering British shareholders have seen their investments plummet from 4p, when the ineffectual and greedy Aussie BS Meister, Greg Kuenzel, first started in 2011, to 0.091p today. But there's more bad news. With only £200K cash in the bank at the end of June 2016, Greg is now planning to consolidate NMG shares ahead of the next major equity placement, which will seriously dilute existing shareholders.The Georgian Mining Corporation (formerly Noricum Gold) needs to a new CEO who has the necessary skill set to prove up JORC resources and deliver near term production. Greg Kuenzel do the decent thing tender your resignation and buy yourself a one way ticket back to sunny Perth, Western Australia.
Re: Possible Drop Due? It looks like the Market is cutting its losses before the consolidation shuffle.Some will cut and run ?No news usually means, get out fast .Being very careful, for the time being...GLA.
Possible Drop Due? Are we getting ready for the Drop before the GEO dilution?GLA
Re: Greg Kuenzel, Where's your resignati... It looks like the Market thinks that the 100 to 1 share consolidation also means more sp dilution. IMO.It has seen it all before, but how about some GEO news.Now tell us what you have found Greg....Is the 'L team' interested and ready to assist?GLA.
Re: Greg Kuenzel, Where's your resignati... Well Greg's come up trumps again with exciting news about a name change and share consolidation. 'Mmmm. Why?
Greg Kuenzel - Noricum losses double! So Greg has nearly doubled the losses at Noricum and there was only circa £200K left in cash at the end of June.Roll on the next placement at 0.08p!The Highlights are an absolute joke.· Significant drilling intercepts at the Kvemo Bolnisi East project, including 33m @ 1.04% Cu from surface and 23.2m @ 2.8% Cu from 89.8m---- Some copper the price of which is at a four year low. Big deal. What happened to the gold! · Board strengthened by appointment of Dr Neil O'Brien and Mr Peter Damouni, both with significant experience in developing and financing mining projects. ---- So development will need finance and that means equity placements and more dilution.· Memorandum of Understanding ('MoU') signed with owner of the nearby gold and copper mining operation JSC RMG Gold and JSC RMG Copper ('RMG') to outline mining and processing arrangements for future production---- A MOU isn't worth the paper it's written on. No near term production in sight.Greg has spectacularly failed to deliver as usual.All IMHO. DYOR.
Greg Kuenzel - When CEOs fail So Greg Kuenzel has spent years failing to prove JORC resources in Austria and a year on in Georgia there is still absolutely no JORC resources proven. There's no chance of any near term production now, so it will be another equity fund raise soon to pay Greg's salary and fund some further drilling.Many Xtract Resources investors had high hopes for CEO Jan Nelson, but when Jan failed to deliver profitable gold production at the company's Chepica gold mine in Chile, it looks like he may have come under pressure to resign.[link] for Greg Kuenzel to hang up his pristine miner's hard hat and buy a one way ticket to sunny Perth, Western Australia. I have a modest investment in Noricum and would love Greg Kuenzel to prove me wrong, but somehow I don't think he will.All IMHO. DYOR. Good luck all genuine investors.
Re: Greg Kuenzel, Where's your resignation? Are you saying he is a 'journeyman'.'Likes to travel but never wants to arrive at the destination'?Lest see what the next RNS tells us....It is due soon Greg........You said in that last interview ' lots of exciting things are about to happen'.It is time to prove the 'Citychap2011' is wrong....GLA.
Greg Kuenzel, Where's your resignation? Sometimes even capable CEOs have to resign if they have not been able to deliver results.[link] can we expect incapable Noricum Gold CEO, Greg Kuenzel's resignation?Greg Kuenzel has failed to prove up any JORC resources in Austria or Georgia and hasn't provided the promised near term production.I hope Greg Kuenzel has the decency to resign. He has been an appalling CEO who has never met any targets and misled investors along every step of the way.All IMHO. DYORGood luck all genuine investors.
Greg Kuenzel, Will he ever produce gold? I think many investors have been sitting back and very much not enjoying the ride for years now. Greg Kuenzel boasted about the bonanza gold grades and resource in Austria , which came to nothing.There is potential resource in Georgia, but it is just that potential. It is a non-JORC resource and hence unproven and the market knows this. Sadly it is now over a year since Senior Advisor, Mr Mark Owen, was appointed for his proven resource conversions skills and intimate understanding of the Soviet resource estimation standards. And Mark has done what exactly over the last year? Noricum for whatever reason haven't been able to prove JORC resources in Georgia. There have been no feasibility studies and little in the way of metrics to support Greg's near term production boasts.I continue to hold but pen-pushing accountant, Greg Kuenzel and Martin Churchouse (Former Director at Nyota Minerals, which lost its licenses in Ethiopia due to lack of company progress) don't have the drive nor skills to take Noricum into production IMHO. Sadly I think Noricum is a vehicle for equity fund raising to pay Director Fees and undertake some drilling to justify the BoD's existence.IF Greg can prove there are JORC resources, perhaps he may be able to deliver a reverse takeover, which is what happened over at FinnAUst mining (another company where Greg is a Director), but whether long suffering shareholders will benefit remains to be seen. I don't see Greg Kuenzel producing any gold. He never has before.All IMHO. GLA genuine investors.
Re: Report Due Greg. The sp is what it is but with $4bn of resource in the ground this is just grossly undervalued IMO.The Mcap is around £7.2m and Lundin are about to complete that JV.This sp can only go one way in comparison to others in their sector.Sit back and enjoy the journey.GLA.
Noricum Gold chart A long climb back to 4p and how will Georgia be financed?
Marcus Edwards-Jones gets the boot! Finally former Peter Landau henchman and free loader, Marcus Edwards-Jones, gets the boot from Noricum Gold. So it's back working in his Paris and Dubai-based finance boutique for Marcus. Like Greg Kuenzel, Marcus has added no value to the Noricum Gold, failed as Chairman and should have been fired years ago. It looks like it's time for Greg to get the boot next since he has made no progress in getting anywhere near producing any gold in his 6 years as CEO at Noricum Gold.