Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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If pigs fly and there really is a yellow brick road or in this case an oily black road the short answer is no. The rights issue is obviously not being taken up. The shares will go out to placement and will not get taken up till there is some serious good news not just a few additional barrels of oil from Saffron or Trinidad. Then we might see this move.
This has not just badly handled it has been appallingly handled by the board.
If back in September they had come out said "Look we think that we are fully funded but just to be sure we are planning a rights issue of 1 every 100 shares and raised the money in one go and still set a CLN as a contingency" Then i think that many on here might have taken them up but no they cut off all avenues end up with a bad drill that mean a fully funded well gets you 80% there and what makes it worse i fell for it all. Some on here questioned very closely the fully funded part and the other methods of financing in place. In the end we were screwed by our incompetent board, a vexatious legal claim and an ill timed attempt to raise money with a company that i believe have noted they are going green and then off load everything at the speed of light. We were trying to raise less money on more shares being issued because the SP was falling every five minutes. I still have a lot of shares in and quite frankly they will stay in bottom drawer until hopefully a farm in or Geneiss finally come to the party because at the moment i am starting to wonder what the hell they are meant to be doing.
If Geneiss had come up with something i think we would have heard by now. So now we are raising funds desperate to prove we are a going concern. The only problem the CEO has left but actually no he is still there. We just have a new puppet in charge except the old puppet master is still there. I am guessing but take up on the rights issue is minimal reason everyone put there money in at the beginning and run up and not now. It might have been different if they had done the consolidation first with the announcement of any Gneiss deal and then done an RI if there was good news but not now. Now are ripe to get taken over or just wait till we are no longer viable.