Member Info for Bewarethebrokers

Up 6% and rising

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I’ve been very critical of Gervaise Heddle and Baxter recently but i’m going to hold my hands up and admit that i may have made a big mistake and i’ll explain why.

When GH announced the placement i was fuming,after all he constantly banged on about being fully funded up to mid 2019 and then he did that. £2.65m which meant as he said fully funded up to the end of 2019. This meant that greatland gold had £6m.

My initial thought was that it was pure greed and that he was screwing over the shareholders but the figures do not add up.

From the 30th jun 2015 to 30th jun 2016 there was an operational loss of £664,000
From the 30th jun 2016 to 30th jun 2017 there was an operational loss of £1.25m
From the 30th jun 2017 up until 31st dec 2017 there was an operational loss of £718,000
£6m should fund greatland gold way longer than the end of 2019 unless there is a big plan for using that money on maybe a joint venture with Rio perhaps? If this did happen then the share price would easily hit 3p for 5 consecutive days which would trigger a further £4.25m into greatland gold.
Of course my initial assumption that it was for pure greed could still be true but maybe the money raised was for something big that will benefit the shareholders after all, at least that is what i am hoping!

Thoughts?

I hope he has because all my posts are for that exact reason to give him a much needed kick up the backside to get results!

wow! You must be the only person on here that he has not blocked!

Give it time.

About F#####n time!

Selling price currently 0.95p

The share price is now below 1p another 7.5% down to go with the big drop yesterday.

£2.65m is for 6 months, explain what it is being used for.

There are about 10 people on here who do nothing but jump to the defence of greatland gold no matter what they do.£2.65m placement that is going to last 6 months, so come on explain what that money is being used for? It was supposed to be used for drilling but now it seems they don’t want to spend it on that they would rather issue 11.3m shares instead to pay for it. Heddle and his cronies are having it too easy,this is business they need some serious pressure putting on them to deliver results and i couldn’t give a toss who gets upset on here by my comments.in the long run it’s our money that is at stake if this fails.

Some of us don’t accept it and are realising this company is rotten to the core.

How about answering the question.

What are they spending £85k a week on?

This absolute joke of a company is spending £85,000 a week of our money on what exactly?

I want to see receipts and every single penny to be accounted for.

Then we will really know what exactly is going on here!

Keep holding, do not sell until that mountain has been well and truly drilled and the results are announced.

I devoted more time on really getting to the bottom of greatland gold and i don’t like what i’m finding. Why does this company that makes no money need £85,000 a week for the next 18 months?

It was in response to this comment from dimvestor

Would GH have joined CB in the Western Desert, 9 hours dust road drive from Kalgoorlie unless there was something historic to witness?

If somebody wants to make claims about why they were there i want to see proof and so far there has been no proof whatsoever that any of them were there.

If CB and GH had driven 9 hrs in the desert and were sat around a camp fire drinking tea then why did he not take a picture and post in on twitter? Somebody asked him for a picture but there was no response. Stop looking through rose tinted spectacles, this is business and every business needs results and i see a big fat zero.

I totally agree with you mate greatland gold is nothing but hot air with absolutely no substance behind it. Never made a penny apart from the directors who have made a fortune. £85,000 a week to keep it going for the next 18 months. They might as well use the £85,000 a week to actually buy some gold then at least there would be some value there at the end of 2019. But hey,why bother when you can just keep making placements and keep taking the big salaries. It is about time Baxter starting delivering for shareholders but hey i somehow doubt that will ever happen!

In a perverse sort of way, Greatland Gold is actually testament to what a good market AIM could be. As I’ve said before, for all its other failings and long term decline, AIM remains a surprisingly effective mechanism for raising money. That this money ends up in the coffers of the likes of Greatland Gold is an entirely different matter.
If you do decide you fancy a punt on this glacial stock, there isn’t any rush. The £500,000 the company raised last Friday should keep it going for a while. Given the clockwork performance of the share price in the past, it wouldn’t be too unreasonable to expect the stock to drift in the second half of this year, before coming back to life at the start of next year and putting in a decent run, just in time for Mr Baxter’s next summer giveaway.

Here is the article which has ****ed me off

Does anything sound familiar?

Company Name & Ticker
Greatland Gold (GGP)
Amount Raised
£500,000 (before expenses)
Placing Price / Previous Close = Discount or Premium Applied
0.325p / 0.46p = 30% (and >40% lower than the week’s intraday high of 0.53p, ho, ho, ho!).
It is also worth mentioning that the average closing price for Greatland Gold has been 0.5p for the whole of 2014, so this discount was a particularly nasty one for existing holders.
No. of bullish RNS releases in the last 6 weeks
1
How many issues of equity in the last 12 months?
3 since last June
Share price performance over last 12 months
+20%
Comment
I can’t help but think of the words “lifestyle” and “business” when I think of Greatland Gold (GGP). There is a summer ritual, which this company goes through and you could almost set your clock to. It begins with CEO Callum Baxter jumping on a plane in Australia and flying all the way around the world to London. On arrival, poor old Mr Baxter has a jolly packed schedule. He has to reel off a few presentations and sign off on his company’s latest deeply (and I can’t emphasise that word enough) discounted placement, before hopping back on that plane to make the long journey home. We then hear very little from Mr Baxter, until the following summer, when this ritual is repeated and he returns to dear old Blighty to give away his company’s stock once more. It’s such a tough job running a gold “exploration” company.
According to its website “the principal activity of Greatland Gold plc is to explore for and develop natural resources, with a focus on gold”. Well, there are some who might disagree with this, but for a second let’s play along with the official version of reality. In total, Greatland Gold has six projects including the Ernest Giles gold project, Lackman Rock, Bromus, Firetower, Warrentinna and East Lisle. Of these, apparently Warrantina and Firetower are the “key” projects.
Taken at face value, putting your money into a company with six exploration projects on the go might sound like an exciting prospect. You might even expect a few fireworks and a stream of newsflow from such a business. Sadly, for any investors in Greatland Gold who have bought into this expectation over the years, they will have been sorely disappointed.
For a business which has been around since 2005, Greatland Gold must be one of the standout performers for its total lack of.... errr... performance. Just take a look at the company’s RNS history. With six projects listed on its website, remarkably little actually appears to happen. Apart from some apparently half-hearted efforts at drilling, about the only purpose I can discern for Greatland Gold’s listing (other than paying salaries and City fees, of course) is that you can use it as a marker to know when to plant your summer potatoes.
In a perverse sort of way, Greatland Gold is actually testament to what a good market AIM could be. As I