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;-)
Hi Jambo,
You have not missed anything! I am making a forward-facing statement. I am sorry for not making myself clearer.
Malva
Have I missed something re the financing via bank loans, are these now in place?
I agree TimberTrader. It takes a number of months to get contractors in and plans arranged for exploration. A portion of cash from last year's placing was for funding exploration at our 100% owned licences. Excess cash raised from the placing was additionally marked for 100% owned licence exploration. The 5% will first be used to pay off the Havieron JV loan. Then any excess cash is for the company's discretion. I think it will be used to keep the company running until we receive revenue from mining Havieron. The bank loans that SD negotiated (and equity financing) will be used for funding mine development.
"There is no way he is going to put out an expensive exploration program unless he knows the companies complete full financial situation to the penny ! financial men like Shaun like all their ducks lined up before making big financial costing statements."
Agree!
"The 5% is done in my opinion and it’s in our favour I feel, announcement inbound anytime or he wouldn’t release that drilling exploration plan."
Disagree...The drilling plans for 2022 have been on the cards since the end of last year, and have been mentioned numerous times by Shaun Day since then. I really can't see how the 5% will have been finalised yet, since it's clearly price sensitive information, and would have been released already, had it been finalised. The 5% agreement may well prompt further drilling plans, but again IMHO, has nothing to do with the plans just released.
Jiffy, You may well be right about future bank funding approaching conclusion. It could be any of these things or a combination, either way it’s a good sign that SD feels confident to Kick off the exploration.
Good point Antigua, I'm sure Shaun already knows that.
Maybe other funding sources , ie the term sheets are on the cusp of agreement, who knows?
Another way of putting it is plans and timing can change in order to adapt to unforeseen events, say the 5% being triggered.
No disrespect but that Rns was in the past and doesn’t relate to current events, ie until the 5% is sorted. It would make no sense using up spare capital on exploration when engaged in tricky negotiations. One thing we can’t afford is to run out of money or do another capital raise with the share price so low. That would be an absolute gift to those controlling the share price.
Would Shaun not delay drilling for a short time just to make sure.
Hi Zoros,
One O/T question...was Santorini good or bad ? I need to know before I book :O)
Hi Zoros,
Thanks, had not seen your post until you just advised.
Thanks anyway, can get back to other matters now:O)
Jiffy - see my 2332?
Z
Sorry, heres the RNS I was referring to.
https://www.investegate.co.uk/greatland-gold-plc--ggp-/rns/issue-of-shares-and-total-voting-rights/202107011021088399D/
Hi TallChap,
Let's not forget the raising of finance back in exactly one year ago, 01 st July 21 placing.
Some of that money will no doubt be financing today's planned drilling RNS .
Looking at the RNS from 2021 in notes to editors it specically stated:
'Greatland is seeking to identify large mineral deposits in areas that have not been subject to extensive exploration previously. It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.'
'The Company is actively investigating a range of new opportunities in Australia for precious and strategic metals and will update the market on new opportunities as and when appropriate. '
Hence todays RNS on drilling of our 100% assets etc ?
So, in my honest conclusion, we cannot at this point in time assume anything other than drilling on our 100% assets has always been planned for over a year ago etc, plus Shaun I am pretty sure has previosly mentioned this in his interviews etc over the past 12 months.
To tie it up with an impending 5% resolution IMHO is not proveable unless someone knows different?
Just my musings, I hope your right and I'm wrong! :O)
TallChap - a balanced post might have been more astute, perhaps?
Maybe, just maybe the cash for exploratory drilling came from this:
https://www.lse.co.uk/rns/GGP/proposed-placing-and-subscription-cfajwgywpthsvfl.html
But you knew that already. didn't you?
No malice intended.
Z
Complete nonsense
SD is milking the cow
Each to his own, I guess. Misleading people with speculation promoted as fact is most likely far ore damaging.
Hope you are correct Tallchap, it's been such a distraction, plenty of good drilling results reported. Now for Rudall, looking like the best of our 100% owned prospects. Have to trust Callum knows more than most & stands to make a well deserved fortune when the next mega find comes in. Guess we will soon be on the 2nd climb of the Lassonde curve, too long in the doldrums. Good Luck Everyone! Amazing 6 months to come.
Welshfalcon
I welcome your opinion and anyones opinion
but was the snide nasty comment at the end really required ?
You wonder why this share is lacking in new money when people like you make snide nasty comments on this board putting people down…..which then puts people off investing in GGP
Your ruining your own dreams mate making comments like that on this board.
Tall chap, any chance to sharing the contents of the email ??
Cheers
I agree, I think the 5% is a done deal , as someone has just said, you don’t go running off spending money unless there is a commercial package secured, I think the 5% will be announced with the financial study to mine published, is going to be sooner than we think.
Pure speculation. You don't commit to expenditure unless and until you have the resource to pay for it. Any other route is madness!
You can be sure it has all been costed on the basis of the company accounts to date only. Any extra from the 5% will drive additional exploration, but not until the ink is on the page (and the cash paid). Just imagine that SD commits to a plan in contemplation of income to come, which hasn't been agreed. What will happen then if NCM says 'no thanks, it's too rich for us at the moment' and we keep the 5%, but have now committed to expenditure for which the income has evaporated?
It's clear there are some dreamers here who have no idea how the fiscal responsibilities of a BOD work.
Tall chap, great bit of debate, first today but will probably get taken down in a few minutes.
Tall happy. You could be right. The exploration plan would only have got past if something in the pipeline was there to support it. I think we could hear very soon imo
Shaun Day former CFO
A money man and now MD of Greatland
There is no way he is going to put out an expensive exploration program unless he knows the companies complete full financial situation to the penny !
financial men like Shaun like all their ducks lined up before making big financial costing statements.
The 5% is done in my opinion and it’s in our favour I feel, announcement inbound anytime or he wouldn’t release that drilling exploration plan.
Monday would be a good day to announce, catch a few out in the US as it’s Bank holiday July the 4th !!