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Read the RNS carefully and you might not be so happy with it.
The first tranche of the loan money is not in the bank until it's in the bank. It is "expected" in December.
The second tranche looks like it does not have all of the conditions satisfied yet...
It looks like one of the conditions of the drawdown was a further equity raising, and this was known all along.
I would not be in the least bit surprised if the cap comes around again in February.
f15jcm, what we have been shown, without a doubt, is that the detail is 100% relevant. Inspect that Taurus loan RNS, when it comes out, with a microscope.
Hydrogen, I suggest you take a look in the mirror, and take a look at some of the posts on here today before you start calling others nasty.
I've nothing further to say to you. You are the very thing you have accused me of, and you have nothing of interest to say either.
MassiveRay, I'm not in the least bit worried about gambling on some wildcat drill like Scally. Even if Scally came up with something decent, and that's a huge if, that's not enough.
As for eating words, steady on, today is the day that you lot should be eating YOUR words. Eating all that Bullcacka of 10m oz minimum, more like 15-20m oz., Tier 1 ya di ya - utter rubbish.
NtthisG, as I was saying, there are a number of nasty individuals on here that resort to personal attacks when they realise that they can't win in civilised argument. It's a character flaw unfortunately. Hydrogen is clearly one of those people.
NtthisG, you are most welcome. This is not my first visit to this BB. All visits have been an unpleasant experience, thanks to a number of charming people on here. On each visit previously I was basically assured that we were looking at a minimum of 10m oz Au and probably a lot more. Turned out it was utter Bullcacka, and the same people are now trying to spin that 4.2m oz Aueq is ok!
How can people possibly say that 29p is cheap? Relative to the very recent all time highs it's a 10% discount. Were those people to zoom out on the chart just a very tiny little bit, they would see that 29p is not cheap, not cheap at all. Woods for the trees.
ScipioA, if GGP were sat at 3p now and this RNS came out, you'd be popping open the champagne and enjoying a single day rise of 100% or more. Since it is sat at 10x that (3), it just is not good enough to sustain the mcap. Amazingly, the bulls are putting up a tremendous fight, such is the power of confirmation bias.
Steve, the answer to your question is no, the other prospects are not that good! They are wholly unproven at this stage.
GGP will own 30%, not 40%, under the current agreement. Yes, a mcap of 1.3b is a bloated monster for 30% of a 4.2m Oz Aueq at 2.5g/T.
This share is incredible. You've had a shocker of an RNS and have been gifted the opportunity to offload near all-time highs. Everything about GGP beggars belief now - full detachment from reality is complete.
Bullet proof clarity on the loan is now required.
Aputure, yes I'm sure that they are going all guns blazing and don't mind sacrificing their shareholders for it.
Using COVID as an excuse would take the P even more. We were well past the first wave by the time the "final" finance deal was signed on the 5th of August; covid should have been baked into the detail.
Well let's see if it's right or not. Not long to wait now.
Both the price and the amount seem about right. Holders should be pleased that it's at 22p and not lower. the amount is over 1/4 of the total Taurus loan amount (A$203m), which is not impressive tbh. Seems to me that they are milking investors for a very healthy buffer. POOR SHOW Tony, poor show. There is no other phrase for this: it's been a royal R up and I hope that it marks his career like it should.