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As i read it.
We're getting a cash injection of 500k in the form of a subscription for shares. Ok fair enough we're diluted as part of this so this effectively nets itself out to 0.
We are however getting someone contracted to spend $4mil on drilling in return for 50% of the area. Now if they don't find anything we've given away 50% of not very much.
If however they do hit something good then we've had the initial work done for us which we currently don't have budget to do. So we give up 25% or 50% of something (depending on how much they've spent) instead of sitting on 100% of land which may or may not have anything.
I'm seeing this as more of a positive than a negative
I think the Markets know better, hence the dip in the SP.. Frankly and honestly, I'm still holding out for 0.1p but will settle on 0.13p which will net me about 75m shares once purchased.
Time will tell.....
The_Bishop. Just my opinion but I think you've called this one wrong. But as you say, time will ...
ATB, FG
😂😂😂😂😂 bishop now you sound silly. Get them while you can
This is probably the easiest and msot straightforward of all the JVs to come hence the quickest. Watch this space for more and bigger ones (which take longer to finalise). Just over a week since ML... 1 JV in the bag.
Good to flush out the weak hands today.
UFO going to have a very, very strong year.
"Errawarra has immediate plans to commence exploration for lithium on the project."
Bishop
Pls explain what you think is wrong with the RNS?
It looks decent to me.
I wonder if the person buying 15m had a little prior knowledge
Max just try to be honest for once,why would a Jv cause a share price to decline by 8%
@Wents. Thanks for owning up to selling. LOL
Nice one Max,but meanwhile in the real world,I just asked you a honest question and like a politician, you just changed the subject.
After today I am just forgetting about these shares.
I have not sold any for the record I would rather lose the lot than sell for this price.
News of a Jv and this happens , I am at a loss,so I was just asking you to be honest, is that to difficult for you.
People didn't realise the JV was for just for the lithium rights until the UFO RNS. Someone even sold 18.5M shares at 0.143p!
They got the wrong end of the stick again, probably due to reading posts here.
As a real shareholder, I am delighted with this deal.
So someone is paying a fortune for lithium rights and the markets see it as a negative and you see it as a positive, have I got that right.
i still agree overall if this company had a ceo with balls they would focus on han**** deal wait a year and use the income to drill all our projects themselves and keep 100% this would be my plan. if this company finds lithium ok it's good but then we also gave away how many millions for peanuts
Wents shorts need to get out, this will bounce. Mining licence, lithium jv. Vivash incoming...... follow the crumbs 🤔😉
Lol this board is a joke. Sell move on, i didnt like what i saw so i sold out, then i liked what i see so i bought back in heavy, don't moan sell move on, loads of shares at the bottom to
Shift to if youre nit happy
Napth I think the reality many so under water (not saying it's not our own fault) that no point to sell. We still have a right to be critical of the board and deals being made . I personally think the company the jv is with seems suspect and too small. I am glad it's only for lithium but if there ends up being a tonne of lithium and you gave away for peanuts questions have to be asked. Time will tell
Smiler, it's how things work.
This is how GGP started back in 2016. Not saying the same will happen here but as I posted before explorers are small until they hit it big.
Greatland agrees to acquire 100% of the Havieron Project in Western Australia for an
initial payment of A$25,000 in cash and the issuance of 65,490,000 ordinary shares
of 0.1 pence each in the Company ("Ordinary Shares") (approximate value
A$225,000), and a second payment, triggered upon a decision to mine, of
145,530,000 Ordinary Shares (approximate value A$500,000);
• Havieron Project covers 135 square kilometres in the Paterson Region of north
Bfd but in your example we aren't ggp . Look at how the sp has reacted today from us and them
Today was a good example of why some people here need to grow a pair!
Smiler my point is GGP were a minnow at the time, just the same as the guys we have partnered with. They paid peanuts and look at the results, a beast for both parties.
Your point, i thought, was you were disappointed at the size of the partner. My point is its not necessarily a bad thing. Oaks from acorns and all that
My point is we given too much away to a minnow. We should always be trying to do deals where we are the minnow and am ok with giving away 50% of Li rights but I expect that to be with a major willing to spend 10million plus on drilling
Bfd your argument is an investment case for them not us
No it isn't.
If they win, we win
If they lose, we lose nothing.
As a small business they are incentivised to work this in a way we would never be able to do.
If your issue isn't that they are a minnow, as you stated before, what is it?
I love coming on here to read the stuff that's get put out, why is everyone moaning, i am deeply under but happy that we have a JV where someone else is paying for exploration, chances are we have shed loads of lithium as well as everything else but until it gets out the ground games will be being played.
Lets get this right a mining License and a JV in the last 2 weeks i am ready for the next