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Ashton

I have to say, I’m a little surprised you “found the analysis quite informative”…

It’s largely out of date, offers nothing materially new, and appears to be aimed squarely at novice investors — covering basics like why paying dividends isn’t ideal for a start-up, or why servicing debt carries a cost. Groundbreaking stuff. It even leans on the idea that the company is “fully funded”, yet within days of publication we’ve had a fund raise announced. So much for that.

Yet you watched it all the way through “with interest”? Really?

Genuine question — what exactly did you take from it that wasn’t already obvious? I’d wager nothing. But that doesn’t seem to have stopped the usual ramp / enthusiastic endorsement you have attempted.

For what it’s worth, I'm pleased I read the transcript — at least that saved me some time. On that basis, I think I’ll be applying a fairly low weighting to any of your similar “recommendations” going forward.

IMHO only. DYOR.

Some of the RC appear to have performed a textbook U-turn. Only days ago we were told the IPO would be oversubscribed, the price would rocket, and there’d be a stampede into the shares. Now, apparently, the GLND share price is “irrelevant” to JL and 80M’s prospects. You genuinely couldn’t make it up. LOL. Naturally, those pearls of wisdom still pick up the usual recs.

Let’s look at a few basics.

Pre-raise, the GNLD common share count was stated at 26,155,232. At a current share price of $5.70, that implies a market cap of roughly $149m. Yet the company is now looking to raise circa $70m — i.e. approaching half of its entire market cap in one go. Wow - that's a BIG ASK.

Now, what happens if the share price continues to drift? That $70m becomes an even larger proportion of the market cap — over half, two-thirds… readers can do the maths. For a newly listed company, fresh off ~90% redemptions, and now signalling an ability for early backers to exit, that really is a BIG ASK.

Which raises the obvious question — if the funds aren’t urgently required for the first two drills (as previously suggested), why raise now? Why not wait for spud, or better still, positive drill results, and (potentially) a much higher valuation? It’s hardly a complex concept.

Alternatively, if the funds are required now, that rather contradicts the earlier narrative that everything was already “fully funded”. Either way, it’s not exactly reassuring.

And then there’s the structure — discounted shares, warrants, and the prospect of additional supply from early investors once lock-ups ease. Again, all very “supportive” for the share price.

So yes, forgive me for not buying into the latest line that the GLND share price — and its ability to raise a very significant chunk of capital — is somehow irrelevant to 80M’s future. It seems rather more central than some would now have us believe — and, at current levels, there has to be a very real question as to whether raising those funds will even be possible on the terms suggested.

As with all my posts — past, present and future — this is IMHO only. Opinion, not advice. Please DYOR before making any investment decisions.

OK Buzz - you win - you can repeat the same dross more times than I care to respond. Well done you. 👏

But on a more serious note.

Some of the RC appear to have performed a textbook U-turn. Only days ago we were told the IPO would be oversubscribed, the price would rocket, and there’d be a stampede into the shares. Now, apparently, the GLND share price is “irrelevant” to JL and 80M’s prospects. You genuinely couldn’t make it up. LOL. Naturally, those pearls of wisdom still pick up the usual recs.

Let’s look at a few basics.

Pre-raise, the GNLD common share count was stated at 26,155,232. At a current share price of $5.70, that implies a market cap of roughly $149m. Yet the company is now looking to raise circa $70m — i.e. approaching half of its entire market cap in one go. Wow - that's a BIG ASK.

Now, what happens if the share price continues to drift? That $70m becomes an even larger proportion of the market cap — over half, two-thirds… readers can do the maths. For a newly listed company, fresh off ~90% redemptions, and now signalling an ability for early backers to exit, that really is a BIG ASK.

Which raises the obvious question — if the funds aren’t urgently required for the first two drills (as previously suggested), why raise now? Why not wait for spud, or better still, positive drill results, and (potentially) a much higher valuation? It’s hardly a complex concept.

Alternatively, if the funds are required now, that rather contradicts the earlier narrative that everything was already “fully funded”. Either way, it’s not exactly reassuring.

And then there’s the structure — discounted shares, warrants, and the prospect of additional supply from early investors once lock-ups ease. Again, all very “supportive” for the share price.

So yes, forgive me for not buying into the latest line that the GLND share price — and its ability to raise a very significant chunk of capital — is somehow irrelevant to 80M’s future. It seems rather more central than some would now have us believe — and, at current levels, there has to be a very real question as to whether raising those funds will even be possible on the terms suggested.

As with all my posts — past, present and future — this is IMHO only. Opinion, not advice. Please DYOR before making any investment decisions.

Buzz - repeating your nonsense (for the fourth time) won't make it true or correct. Attempting to drown out an opposing opinion wont work either. LOL. Here's my response to the same post from earlier.

More “facts” that need correcting / some context.

80M own 100% of an asset worth comparatively little at the moment. Its worth will only be illustrated by drilling - for which it looks like the funds don't exist as yet.

Yes, and the companies that spent most of that $250m decided not to drill. Cairn energy spent around $1.2bn over a 2year period looking for oil offshore - and didn't find anything of commercial interest. They were hunting in an offshore area - the area that the United States Geological Survey considered to be the most likely in which to find oil. In fact, they thought the chances of discovering an economically viable reserve on JL to be so low they excluded it from their own quantitative survey. In fact around $4 - 5bn has been spent so far and the results rather speak for themselves. Yet GLND will try to raise a paltry $70m and hit the jackpot. Reality check perhaps?

As for your fantasy figures - well, they are just that - fantasy. Still, I’m pleased to see that even you are wavering on the anticipated share price value for 80M - you’ve reduced your estimate down somewhat from the ‘’1000X’’ you were originally ramping. Hilarious.

But, let's be extremely optimistic / generous and assume both holes are a success - how do you get from there to the fantasy figures you post? You seem to think that the 2 holes will be definitive - they won’t be. Considerably more holes will need to be drilled to assess flow, size and location - how will 80M fund its share of that progress? Clue - it won’t be holding anywhere near 30% by the time the scale of JL is known. Will it have sold out entirely? Will it be reduced to 5% or less? Who knows? But what is obvious is that it will not have a 30% share of the vast fantasy riches you are claiming.

‘’First drill success (early Q3)’’ - keep up, we’ve already been told it won’t be until Q4 (October) and that looks like it might be reliant on sufficient funds being raised.

And for the umpteenth time - I’m not Rachel Hogarth, I don’t know who she is and I’ve never even met anyone from 80M (or Bluejay or FinnAust) but no doubt you’ll keep peddling that dross as, lets face it, you’ve not got a sound counter argument and your desperation to ramp drives you to post false information.

As with all my posts — past, present and future — this is IMHO only. Opinion, not advice. Please DYOR before making any investment decisions.

Buzz - repeating your nonsense (for the third time) won't make it true or correct. Attempting to drown out an opposing opinion wont work either. LOL. Here's my response to the same post from earlier.

More “facts” that need correcting / some context.

80M own 100% of an asset worth comparatively little at the moment. Its worth will only be illustrated by drilling - for which it looks like the funds don't exist as yet.

Yes, and the companies that spent most of that $250m decided not to drill. Cairn energy spent around $1.2bn over a 2year period looking for oil offshore - and didn't find anything of commercial interest. They were hunting in an offshore area - the area that the United States Geological Survey considered to be the most likely in which to find oil. In fact, they thought the chances of discovering an economically viable reserve on JL to be so low they excluded it from their own quantitative survey. In fact around $4 - 5bn has been spent so far and the results rather speak for themselves. Yet GLND will try to raise a paltry $70m and hit the jackpot. Reality check perhaps?

As for your fantasy figures - well, they are just that - fantasy. Still, I’m pleased to see that even you are wavering on the anticipated share price value for 80M - you’ve reduced your estimate down somewhat from the ‘’1000X’’ you were originally ramping. Hilarious.

But, let's be extremely optimistic / generous and assume both holes are a success - how do you get from there to the fantasy figures you post? You seem to think that the 2 holes will be definitive - they won’t be. Considerably more holes will need to be drilled to assess flow, size and location - how will 80M fund its share of that progress? Clue - it won’t be holding anywhere near 30% by the time the scale of JL is known. Will it have sold out entirely? Will it be reduced to 5% or less? Who knows? But what is obvious is that it will not have a 30% share of the vast fantasy riches you are claiming.

‘’First drill success (early Q3)’’ - keep up, we’ve already been told it won’t be until Q4 (October) and that looks like it might be reliant on sufficient funds being raised.

And for the umpteenth time - I’m not Rachel Hogarth, I don’t know who she is and I’ve never even met anyone from 80M (or Bluejay or FinnAust) but no doubt you’ll keep peddling that dross as, lets face it, you’ve not got a sound counter argument and your desperation to ramp drives you to post false information.

As with all my posts — past, present and future — this is IMHO only. Opinion, not advice. Please DYOR before making any investment decisions.

Buzz

More “facts” that need correcting / some context.

80M own 100% of an asset worth comparatively little at the moment. Its worth will only be illustrated by drilling - for which it looks like the funds don't exist as yet.

Yes, and the companies that spent most of that $250m decided not to drill. Cairn energy spent around $1.2bn over a 2year period looking for oil offshore - and didn't find anything of commercial interest. They were hunting in an offshore area - the area that the United States Geological Survey considered to be the most likely in which to find oil. In fact, they thought the chances of discovering an economically viable reserve on JL to be so low they excluded it from their own quantitative survey. In fact around $4 - 5bn has been spent so far and the results rather speak for themselves. Yet GLND will try to raise a paltry $70m and hit the jackpot. Reality check perhaps?

As for your fantasy figures - well, they are just that - fantasy. Still, I’m pleased to see that even you are wavering on the anticipated share price value for 80M - you’ve reduced your estimate down somewhat from the ‘’1000X’’ you were originally ramping. Hilarious.

But, let's be extremely optimistic / generous and assume both holes are a success - how do you get from there to the fantasy figures you post? You seem to think that the 2 holes will be definitive - they won’t be. Considerably more holes will need to be drilled to assess flow, size and location - how will 80M fund its share of that progress? Clue - it won’t be holding anywhere near 30% by the time the scale of JL is known. Will it have sold out entirely? Will it be reduced to 5% or less? Who knows? But what is obvious is that it will not have a 30% share of the vast fantasy riches you are claiming.

‘’First drill success (early Q3)’’ - keep up, we’ve already been told it won’t be until Q4 (October) and that looks like it might be reliant on sufficient funds being raised.

And for the umpteenth time - I’m not Rachel Hogarth, I don’t know who she is and I’ve never even met anyone from 80M (or Bluejay or FinnAust) but no doubt you’ll keep peddling that dross as, lets face it, you’ve not got a sound counter argument and your desperation to ramp drives you to post false information.

As with all my posts — past, present and future — this is IMHO only. Opinion, not advice. Please DYOR before making any investment decisions.

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