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If the Red Setter mineralisation is gold at any decent grade we're all rich. Very few will have held GGP for the whole ride. I know I would have cashed out long before Billion +. But here we have a template. Few will sell low, methinks.
Some very smart cookies at the helm of CGNR. Just sayin'.
will prove an invaluable asset to the board as we continue to focus on growing the business.
Well, better than nothing, I guess.
As placings go, that one's a beauty. SGZ will do very well with a rising gold price and successful exploration.
Looking at the director deals here on LSE, shows them 1.00 GBX. I thought this must be 1 GBP at first but no, looks like that's 1 pence or less. They would be nicely in profit with a sale even at todays SP.
Could this explain why the valuations presented here are not being reflected in the SP?
Disclosure: not a holder but wondering whether to buy in.
Excellent news. I for one will try to buy.
Gold at an all time high. GAL at an all time low. Cheers Mr Phelps.
Only open to shareholders who's registered address is Oz or NZ.
Per the 21Jan20 presentation
Share Purchase Plan: Non-underwritten Share Purchase Plan for up to A$30,000 per shareholder, subject to an overall maximum size of A$25 million (SPP)
• Details of the SPP will be provided to eligible shareholders in the SPP booklet to be distributed following the completion of the Tranche 1 Institutional Placement
Is this only on offer to holders on the ASX? I'm in thru LSE and had nothing thru.
Per the 21Jan20 presentation
Share Purchase Plan: Non-underwritten Share Purchase Plan for up to A$30,000 per shareholder, subject to an overall maximum size of A$25 million (SPP)
• Details of the SPP will be provided to eligible shareholders in the SPP booklet to be distributed following the completion of the Tranche 1 Institutional Placement
Is this only on offer to holders on the ASX? I'm in thru LSE and had nothing thru.
Wow, far, far better tone here, and confirmation of ongoing activity. Should help the SP. I'm happier than I have been for a while.
Yes, I know what you mean. Something always did smell fishy about the prior RNS and maybe the latest one gives us a glimpse of manoeuvrings behind the scenes. I'm holding as I can't believe the project will be binned. Also with other major share holdings (including Roland and Ross), we won't get screwed completely on this.
haha, I'm with you on the RNS cringe.
Seems your view the Melquart controlling stake as a positive. Any idea how that would work?
Since the notorious RNS I've been baffled why GAL hasn't been snapped up. Roland said he's now looking to sell, but how could he if Melquart are in control? It does feel like something is going on behind the scenes but I can't figure out exactly what.
Hmm, I note Melquart required a share consolidation to back up their conversion price. They stand a good chance of gaining control of the company. Not sure if this is a good or bad thing. Anyone?
Anyways, my search on Melquart came up blanks. Only hit was on Melqart. Any info out there?
FFS. Dead already. Only a sale can help us now.
I continue to hold but looks like its dying. Cheers Roland.
LK505, very much appreciated. Thank you.
The belfast telegraph article was particularly interesting, Quarry Products Association Northern Ireland voice their support for Dalradian saying its an issue for the whole quarrying industry there. They are now Mineral Products Association Northern Ireland and their website shows Dalradian as a member, tho not Galantas.
My view is shifting. I can better understand now GAL not paying PSNI. Its something for the industry as a whole to work out.
Both good and bad. Good in that GAL has wide support for not paying PSNI for its service. Bad in that it may take some time to resolve. With this new info I can better understand GAL's position to reduce costs.
Never mind LK505 I found the news of 400k in The Irish News dated 24NOV16. Before the takeover, of course, but I saw no news saying that the issue had been settled. Bloody stupid thing.
LK505. Well, I don't believe the PSNI story either. Personally, I also have no objection to your posts here. I appreciate there will be objects to mining, or many other developments from people nearby. But maybe you could take some photos and share a link. Of course, its maybe a bit late now since mining has stalled in the event.
Do you have a link to the news of Dalradian owing PSNI 440k? I think its rather mean of them considering the wealth they're holding. Strategically silly, too.
From the very first reading of the notorious RNS I felt something was not right. It is clearly negative and probably unnecessary. GAL could have continued their development whilst raising more cash, a loan, or partner. They must still have cash after the 2m placing in August.
OK, suppose they were bleeding cash too quickly. They could have reduced the workforce and continued on the basis of 2 days support from PSNI. As Roland stated, this has been known about for some time. Whatever actions a competant management might take, there were much better options than put forward in that RNS.
So why? I also believe Roland to be an honest guy - as honest as any player in today's world. He hinted quite clearly in the proactive video that he was in talks with someone regarding a JV/sale. The only plausible actor is Dalradian and their truly massive backers, Orion Resources.
It makes a lot of sense for Orion to acquire Galantas. Financially, its a no brainer. It also matches their current holding with Dalradian to perfection. But that doesn't explain the RNS. In fact, if Orion were sniffing around it would make sense to continue. BUT, there is another play here. If Orion simple take over Galantas, they may be seen as a predator expanding their hated operations. Much better to come in as a white knight, rescuing jobs and using the Cavanacaw mine to show just how beneficial mining can be to the local economy and proving the nay-sayers wrong but operating a clean and environmentally friendly operation. Roland highlighted this in the video.
So there's my take. Probably around, and before, the anticipated placing alerted in the RNS, Dalradian will buy out Galantas. They will give the PSNI the funding they want for more support and use Cavanacaw as the key that opens the door to wider operations at Curraghinalt. They would be crazy not to.
Is this too far fetched. No way. When we look at the current corporate environment; wework, boeing, woodford etc, its exactly the sort of cunning plan we would expect.
I am also holding tight here. The question for me now is whether to buy more. Your views please gentlemen.