GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
This might sound ungenerous - but business is business.
Going to a bank with a JV, probability to mine, probability of gold price staying high, probability of getting gold out of the ground etc etc... are only probabilities to a bank, and still risky when lending 'other people's money'. Effectively NCM have done the same - their shareholders money - but from a position of understanding the fundamental risks better than a bank might.
For GGP it was probably a choice between accepting NCM terms, raising capital via new shares (or dreaded CLNs), or paying a higher rate elsewhere.
It is all somewhat confusing in respect of whether these are favourable, market, or unfavourable terms.
It feels like even more hinges on SW results now - for the short term.
However, the medium ter prospects seem to have improved.
All IMHO, DYOR, etc.
Only went to watch a film and check in before going to bed. Need to read up now - is this good or not so good? Guess tomorrow will tell. (it is almost tomorrow - unless you are in Portugal).
Mushroomkid,
Nice Rolls Royce analogy.
I was thinking more of owning a very nice, old painting.
Now I am desperate for money, and someone offers me £10k for 70% of it.
We both know IT MAY just be a Van Gough - but nobody had let the experts loose on a close inspection.
I get £10k now, and maybe a lot more for the 30% I no longer own, so I am happy.
Purchaser gets 70% of a nice painting for a fairly high price at that stage - but knows it may be worth much more, so they are happy.
Now if the 70% owner is a collector, and if the painting is a Van Gough, might he not pay millions more for the 30%?
Whilst the recent volatility in the Gold price has resulted in a 'softening' (by all accounts the view expressed by 'experts' is that this likely to be temporary), the price of copper continues to surge ahead.
Nice having Gold and copper in the ground.
Timber
I do hope that Sandeep does not go - he is too much of a friend to GGP.
If he did, then NCM would be after a replacement. Whilst Gervais would have to be an outsider, it would probably go to someone with greater experience of handling a mining company.
Just a few more variables to mull over!
..and still speculation, for now.
B1ll
Directors have a duty of care, apart from anything else.
IF IF IF.... they issue further shares, they would get the best price available at the time (subjective, as they would rely on advisers providing an indication of price they believe would be acceptable to the market).
Invariably that is at a discount to the market price over the previous x number of days, and rarely in times of increased market volatility.
GGP are in the enviable position (for an AIM company) of not appearing to have any tight financial constraints at the moment.
How many people have an overdraft and rarely use it?
Handy to have 'in case of need'.
How many of us have insurance products for various scenarios - none of which we hope to face?
The opportunity to issue shares - but not necessarily doing so - can be a bit like that.
Nominal - so £750k at 'FACE VALUE' which is o.1p Ordinary Shares.
Greatland Gold Plc Ord 0.1P is listed on the London Stock Exchange, trading with ticker code GGP.
What price each share mught be sold for is another matter entirely.