UK 12:15 Wednesday, 7 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
As we have pointed out numerous times, the crowd funded debt death spiral has failed. Golden Saint Resources (GSR) managed to raise a net £159,000 two weeks ago in a bucket shop placing but is still completely out of cash. It is bust. It is trading while insolvent. Yet still the pretence goes on with an "operational update." What bollocks.
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Comments
Daniel Victor
When I held shares in a company with a shortage of cash,I would sometimes kid myself that a statement like that meant that there wasn’t a problem simply because the statement didn’t mention any funding problem.Sadly,funding problems don’t just go away.