Member Info for sandgrounded

Taken from the Rns dated 22nd August….

Alastair Clayton, Executive Director commented - "Artemis is in a very busy phase of its 2022 exploration and evaluation programme. Paterson Central drilling is progressing very well and as part of the senior management team that recently visited the Paterson Central region it is difficult not to be struck by the scale of the exploration and development activity in the area and the proximity of our project drilling to the emerging Havieron mine.

With all drill holes now returned from recent drill programmes at Carlow the updated MRE is now being finalised.

Could we see that MRE next week? ( fingers crossed emoji)

SAS, what about PaddyG. Isn’t he the scout finding all the possible new Prospects for the team?

( sounds and reads a little better ;0) )

SAS, what about PaddyG. Isn’t he the scout finding all the possible new finds.?

Read the candles. I agree, but I would also say to Shaun. Don’t be predictable. Put out the Rns at 9.30, 1015 or 11 O ‘ clock for example. Catch them out. Make it more difficult for them to read what you are going to put out next.

I know he is trying to get institutions on board, but he needs to mix things up in the short term.

Greentech reported encouraging drill results yesterday, but it hadn’t helped ARV’s share price.

Russia and India no longer need the U.S. dollar for mutual settlements, said BRICS International Forum President Purnima Anand.

A new mechanism has been established between the two countries, using only rubles and rupees, Anand told reporters last week.

"We have implemented the mechanism of mutual settlements in rubles and rupees, and there is no need for our countries to use the dollar in mutual settlements," Russian state news agency RIA quoted Anand as saying.

Anand added that a similar mechanism is being developed between Russia and China to eliminate the use of the greenback and employ only rubles and yuan.

This way of paying for goods gives Russia a way to go around the sanctions imposed on the country following its invasion of Ukraine.

https://www.kitco.com/news/2022-08-29/BRICS-president-Russia-and-India-have-no-need-for-the-U-S-dollar.html

Speedy, could the price of gold being manipulated, be the result of the US trying to stop Russia from gaining an advantage in the financial market? Russia has built up a large stock of gold which it has tied its currency to. Would the lower price of gold cause any effect on the value of the Rouble?

Taken from a GGP RNS on 22/11/20

“ Following the delivery of a Feasibility Study, the Management Committee will meet to consider a Decision to Mine. A unanimous vote by the Management Committee is required to approve a Decision to Mine. If a Decision to Mine is not approved by a unanimous vote, then the party who voted in favour shall have an option to purchase the non-approving party's interest at fair market value.”

Soon E the Feasability study is done, if New rest want to delay it, then Greatland can buy it at fair market value.

Watch out Mr Biswas, that fair market value may come back to bite you in the a**e

The NCM loan was meant to cover us up to the Feasability stage so this new money raised must be to either pay off NCM’s loan or go towards the73 million needed to get to production.

Shaun had told us that the equity raise was needed as part of the process for bank loans, so if he raises 100 million dollars, the company should be in avery comfortable position to cover its costs.

Ironman, we could always get Gervaise Heddle to do it. No one better at showing his enthusiasm.

TT, spot on.

I think Shaun would make a very good chess player. Looking at all his options well ahead of the next move. He does seem to have looked at all outcomes for the 5% and reacted accordingly.

Let’s see how quickly an Rns is produced after the book build is closed. ( should be around now). I 5hink GGP would like to get it out before the markets open, but that is just my thoughts.

Correct. More shares but with the near certainty of funding, our Market capital should also be strengthened imho.

I think Shaun covered this is another q&a session, but I haven’t found it yet. He was asked if we could participate and he said he would look 8th it, but that it was v3ry difficult to do. Something like that.

I think Shaun may have already started to look at the possibility of needing another fundraise and after the rejection of the5% by Newcrest, needed to act fast. The book build probably closes in less than an hour, so in my mind, he had the institutions ready to take up the share offer. A general placing could have taken some time.

I know it is a blow to shareholders who would have liked to participate, but the last placing #howed that shareholders could buy in the mark3t for the same price or even less for a few days after. Will we see it this time? I’m not sure. Depends on the uptake.

We may see an Rns before 8am with the figures, but I think Shaun has done a very good job in securing GGP’ s future funding with 5his move.

Gold4u, this is a question and answer from a meeting on the 14/7/22….( courtesy of Dip Sards notes)….

“ Andrea asks what proportion of debt versus equity financing do you roughly anticipate for funding capital costs that have our own project so perhaps you might put the costs in context for us and then tell us the balance
- yeah so look we have the debt side in there which adds up to about USD 123m dollars so that the capex that that ultimately needs to be funded, where we are in conversation as I’ve mentioned before with debts so with bank around debt we have a number of term sheets
- we have a very high quality asset so what does that do that allows you to potentially add additional leverage
- if I can I will borrow 100% of that capex you know through the debt process and may I add we're talking to main street banks you know so branded banks that you and I know or might have bank accounts with so you know highly credible tier one organisations
- that's not to say they might not still want us to add some equity as part of getting that right debt to equity ratio there but I’m aware of the magic of leverage in terms of delivering shareholder returns and that's beneficial to us all but we also want to get the right balance
- we don't want to be over levered we don't want to be under levered so and that's really something that comes to the surface or percolates through the course of a banking process but certainly you should be confident that I understand the benefit of leverage and I think we have an asset that lends itself to achieving that ”

So, it would appear that some equity was needed for the banks to lend. Let’s see what happens in the coming weeks.

For a minnow like GGP, three years ago to now own 30% of a tier one gold mine is a great achievement, by anyones standards.

Sorry not following the last!

Jiffy, I suspect you are right. The last placing in November gave no details except the number of shares issued.

CheltenhamFlyer, thanks for that info. I did try to find the closing date earlier, but missed it. My post crossed after yours so once again thanks.

beginner 1 - “ How quickly will this be oversubscribed for? ”

A good question but as the book build shares are due to go on the market around the 31/8/22, it doesn’t give the organisers much time to inform us on the allocations to the institutional investors.

Having said that I think this has been in the planning for some time, so I think most institutions would have been aware and ready to participate.

Why do I say this? Shaun Day was asked a question about a share issue and letting the shareholders participate. His answer was something like we will look at it, but it isn’t easy. It was something a bit more elaborate and I would need to look into Dip Sards notes to find the question and answer.

As to how much will it be oversubscribed? Well the BOD can issue up to a certain amount before needing shareholder approval. I don’t know the figure to hand but someone earlier mentioned up to a billion shares. I DONT KNOW IF THAT IS CORRECT. ( before anyone wants to have another dig at me)

Just over 300 million shares at 8.2p would almost equate to the £25 million mentioned in the rns, so that could leave a lot of wiggle room for more shares being issued.
Having seen so many twists and turns over the last few years, it wouldn’t surprise me if we see some more. Newcrest buying in? What would that do for the sp?
We are all guessing, but hopefully Shaun will shed some light on todays rns in the morning.

When is the book build completed? The shares will be admitted around the 31/8/22 (Wednesday), but when will the amount of shares applied for be known. Will it be Friday as Monday is a bank holiday and Tuesday seems a bit late.

Just a thought. Could Newcrest apply for shares in the placing? 500 million shares would give it about 10% of the company after additional holders have applied.

I don’t know the answer, but they would have 10% of our 30% of Havieron, ie 3% for £40 million approx. Just speculating. Sorry!