RE: Who Writes this stuff31 Mar 2023 18:28
So end of 2022 we had £750K in the bank and £150K coming from the grant. EMI will now bare the Toral costs. Will EMI have the grant on their books due to owning Toral? We will not need a placing this year unless we do find annother prospect. CB bought a prospect for less than £300k worth of shares in 2 lots for GLR. GLR did work on them and sold 9 of 29 licences to SFR 15 months later for £4 million, a share of the a possible jorc but capped at £80 million and GLR have retained the other licenses. SFR have to spend £4 million on the licences they bought. So there are deals to be done - Toral was a long process but will come good in the end. The cost/time to prove up was high but we now have a resolution.