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Golden Saint: will this become the first ever crowd-funded insolvency?

By Nigel Somerville, the Deputy Sheriff of AIM | Saturday 10 October 2015


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.


The comedy continues. Tom Winnifrith has already flagged up that thus far the funding round announced yesterday has actually cost money, not raised it – see HERE. Perhaps it is possible in this mad world that (pro tem) AIM-listed POS Golden Saint Resources (GSR) could actually raise some pittance from its last throw-of-the-dice funding round. But bearing in mind the cash-burn, it faces an uphill struggle.


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