Last autumn amid ramptastic RNS announcements at the Red Settter hoipium project in Australia , Wishbone Gold (WSBN) raised £5.5 million at 125p and 130p. And it assured us that this would be enough to fund its Red Setter drilling costs through 2026. Natch….
Wishbone Gold (WSBN) has announced the purchase of another exploration asset in Western Australia, the sort of asset that was last explored in the black and white area and failed to impress then and ever since.
The world and his wife can see that the 2025 drilling results from Red Setter, finally announced this week by Wishbone Gold (WSBN) were utterly appalling. I have written to the Oxymorons at AIM Regulation asking if folks were misled ahead of two placings in August/September 2025. Even the BBMs have turned on the company and the chuckle brothers, David Lenigas and Richard Poulden, who run the show. But one chap takes a different view…
Today’s drilling results from Red Setter are shockingly bad, truly dreadful and raise very real concerns about statements made in August 2025 ahead of Wishbone Gold (WSBN) doing two placings raising £5.5 million at 125p and 130p on 27 August and 30 September2025. Today the shares are just 44p as the actual drilling results are finally in. I have written to AIM Regulation and AQSE Regulation as the shares are listed on both markets.
On 21 July 2025 Wishbone gold started drilling at its Red Setter project in the country where 1/3 of folks are descended from convicted criminals. By 18 August it was telling folks that results from the first hole were a “fantastic outcome” and that saw the shares race ahead allowing the chuckle brothers Richard Poulden and David Lenigas to raise £5.5 million at 125p and 130p. Today the shares are just 44p as the actual drilling results are finally in.
On 25 September 2025 the price of gold was $3756 oz. Today it is $5,076 oz. Most gold stocks have made decent to spectacular gains thanks to that. But shares in Richard Poulden and David Lenigas promote Wishbone Gold (WSBN) have plunged from 190p to just 74p. Who is to blame? Showing a monumental lack of self awareness, Lenigas took to twitter last night and blamed….the frigging British.
Far be it from me to suggest that any enterprise controlled by AIM’s Aussie chuckle brothers Richard Poulden and David Lenigas does not operate to the highest standards of transparency but something is not quite right at Wishbone Gold (WSBN).
Yesterday I flagged up what was almost certainly make abuse by Wishbone Gold (WSBN) in making the claim in an interview that its Red Setter prospect was definitely commercial when no grades had been released via RNS to justify that. Eventually its Nomad, Roland “fatty” Cornish waddled back to his desk, after his normal 12 course luncheon, and crafted an RNS for this morning.
A reader has reported the company to AIM Regulation and also asked if Wishbone’s (WSBN) esteemed Nomad, Mr. Roland “fatty” Cornish might care to opine on what seems to me to be an open and shut case of market abuse or at least a breach of AIM Rule 10. It all concerns the promotional video below which went out this morning.
Over the weekend I suggested that the twitter protestations from David Lenigas that he was unaware of an imminent placing at Wishbone Gold (WSBN) meant, under a golden rule of AIM, that a placing was imminent. Natch, on X, poltroons lined up to ridicule anyone who paid to access my article, insisting – without reading it – that it was all wrong and that I was just short or bitter that I was not riding the dragon. Today…
Heck, if I was Richard Poulden I would be raising money for Wishbone Gold (WSBN) faster than you could say " Aussie spiv with a posh English accent". At 1.45p the market cap is almost forty million quid so what's the harm in raising a quick four Bernies? 10% dilution is not that bad. And it would fund a lot more drilling at Red Setter which could be a company maker or, if that disappoints, keep the lifestyle company going for several years. If you wanted proof that a placing was coming, it is below, a tweet from Poulden's bromantic partner David Lenigas saying there is no placing.
Sellers remorse, having banked c400% gains at 0.7p? Well with the shares at 0.83p there is a bit but:
You may remember that I bought, and flagged up to you that I’d bought and why, shares in Wishbone Gold (WSBN) at 0.135p and 0.15p. It was a dirty trade given its history of fecking everything up and that it was run by Australia’s own Chuckle brothers (they always laugh all the way to their banks) Richard Poulden and David Lenigas. I sold at 0.7p and flagged up that you really should bail too. The shares are now 0.35p.
No, not the convicted felon Charlie Gibson, aka Baron Thrash-the-Oiks, but a man from a country where the criminal gene runs rampant in the DNA.
I may have suggested in the past that Mr. David Lenigas was a shameless promoter of penny dreadfuls, the worst sort of spiv from a country where 1/3 of the population are descended from convicted criminals and an all round “colourful” operator. If so, I apologise for he is, in fact, London’s leading analyst of gold and gold mining juniors. Okay I am being ironic. But Lenigas has today, again, tweeted on Wishbone Gold (WSBN) and makes an interesting point.
The Proactive video below comes with the sort of soft questions you would expect. It makes the fawning Brown Envelope man Zak Mir seem like Jeremy Paxman. But it clarifies in my mind two matters so I have bought a second tranche of shares at c0.175p having bought a tranche last week at 0.135p.
I had prepared to tell my stockbroker, the dinosaur, that if he received a message from me on Wishbone Gold (WSBN), he was to ignore it and pretend that I did not send it. But then I changed my mind and bought some shares anyway. We agree this is a dirty trade and not the act of a scholar and gentleman but, well, what the hell….
