Member Info for sandgrounded

I will email the company about the notice period.
They have top lawyers for this kind of thing, so I can’t see them making a mistake.

Will let everyone know the result should they answer.

Is the General meeting legal. If not the resolutions may not be.

Procedure for calling and holding general meetings

Part 13 of the Companies Act 2006 sets out the statutory framework for calling and holding general meetings. These rules and procedures are supplemented in the articles of association and, in some companies, a shareholders’ agreement, so it’s important to refer to all relevant sources to determine the specific rules that apply to a particular company.

General meetings can be called by the board of directors or by members. If directors want to arrange a general meeting, they must provide members with at least 14 days’ notice (or 21 days for PLCs), unless a longer period is required under the articles. If members wish to hold a general meeting, they can make a request to the directors.

https://www.qualitycompanyformations.co.uk/blog/general-meeting-rules-procedures-limited-companies/

Todays rns is headed Greatland Gold PLC, so does the 21 day period apply?

I would hate for us to go through this and then have to do it again later.

I am just giving you my view and the reasons for it. I respect your decision to vote against.

The other resolutions will only last until the next AGM, which will probably be mid December. They are needed in case Shaun has the opportunity to do some m&a quickly. He cant be coming to the shareholders every time for permission like this time, otherwise he could lose that opportunity.

We want him to grow the company, which inevitably will mean more dilution if he seeks an acquisition. We don’t have the money ( at the moment) to do it any other way.

You are correct when we talked about pi’s having the collective vote to vote down any derisory takeover offer, but we are a different company now. It does hurt, I agree, but hopefully we will benefit in the long term.

The extra funding is required to get the debt funding approved. ( ie require 60 million, I think it is).

We can vote against, the debt finance falls through and the sp plummets.
Or
We vote to accept it.

Not a great choice, I admit, but it is what it is. I will be voting for the resolutions, unless NCM Come in with a takeover offer of 25p. ;0)

By the way, I thought 28 days notice was required to convene an egm?

Well, they would take just under 500k at 2.41p.

Keeping hold of those and more for the longer term.

Sandeep is leaving it to Shaun. Why say the same thing twice?

“Personally,I think the only saving grace is that when the Fed pivot , up to a year ahead but probably sooner, the price of gold will rocket ; as evidenced by gold silver action in the recent aborted Dow rally.”

I’ve just been reading something similar on Kitco Gold…
The Fed will 'inflate away' U.S. federal debt; 'real inflation' is in the double-digits - Matthew Piepenburg

https://www.kitco.com/news/2022-09-16/The-Fed-will-inflate-away-U-S-federal-debt-real-inflation-is-in-the-double-digits-Matthew-Piepenburg.html

The price seems to have got a little firmer as the week went on. A few decent buys, here and there.

A possible leak?

nothing special, I fear you may be right. It appears the private investors who took all the risks when the company was pre- Havieron, are being pushed to the edges.
I thought we were over the periods of warrants attached to share issues, but it would appear that Wyloo are so poor that they need the extra warrants at a ridiculous price, to entice them to participate. I mean 10p. Really?
The private shareholders are being told to bend over and take it, because we need their cash to make the funding possible, but I wonder if it’s better to get Newcrest to take us over for 25p, than accept this.
It would be good if the special meeting to agree to this share issue had two resolutions. Accept the deal or accept with no warrants unless increased to say 20p.

One final point. I don’t think this is an after thought to include Wyloo. I think it was planned this way as the board could not issue the full amount of shares in one go due to it exceeding the resolutions in GGP’s constitution. Rather than have a vote at the general meeting to raise shares in a share issue, they have served a fait accompli to take it or leave it.

We all know why they do it. They are using deception to obtain a pecuniary advantage.

Anyone else would get locked up and charged, if they did it.

Have they been waiting for these drill results so they can give a fuller resource update for Carlow?

Chapman prospect - large Copper- Nickel system identified.

The Wyloo investment doesn’t make sense to me if all of Havieron’s minerals are being sent to Telfer. What benefit to Wyloo?
Is there another bit of news to come?

Culpepper, it all started after a post yesterday from someone other than Hydro. The thread was named Tasmania if you want to look it up.
Hydrogen puts a good case forward, but we have to wait and see if he is correct.
Have a good weekend.

GDXJ perhaps?

I am sure Shaun said it was fourth quarter calendar year in one of his many interviews over the past 6 months. Which one? I have no idea!

Orosur Mining (OMI) have one drill success in Columbia, I think it is and go up 40% in one day. We have 23/23 great results and are being held back by the same MM’s. People working in concert to affect the share price. Now where have I heard that before?

Maybe I should alert the Takeover panel so they can keep an eye on what’s going on, just in case those same people try a cheeky bid.

Highlights

§ Six drill rigs currently on site, all focused on growth:

If all the drill rigs are focused on growth, then it would appear NCM have all the drill information for the Definitive Feasability Study to hand and it is the logistics that just need to be identified and confirmed. Could we get the DFS as early as the next NCM update in 6 weeks?
Bamps, I would appreciate your thoughts please.

The December quarter ( October, November, December) is just three weeks away and only 16 weeks until the end of the year. Somewhere in that period should be the DFS, which will tranform our companies sp.
With results like these today, we just need to be patient and we will be handsomely rewarded.
Good luck all holders.

ASX rns out with regard to 23 million options as part of directors remunerations.

I think these replace the options which had expired. LSE rns 15th and18th July refers.