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15/09/14
11:28
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Originally posted by KDoc
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Gents, Ladies,
genuine questions here.
If I understand it correctly, GRK has ~2.1B issued. $800K in the bank with a qtrly spend of ~$250K.
If this pans out, they have to immed. issue another ~166M, with another $250K (or equiv. eq.) to the vendor as soon as the VWAP stays at .006 for > 10 days and then commit to spending another $500K on the tenements over the next 12mths.
I will readily admit to being somewhat of a numpty. However, am I reading it incorrectly to say that another CR has to be imminent?
Is there something here I'm missing to say this thing is set to blow?
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KDoc,
Just to clarify the details in your post.
You are correct in saying that GRK had $801k at the end of June 2014 and their estimated spend was $250k.
However, since the June Quarterly, they have placed more shares through Fosters to raise $639k on the 23/7/14.
The Copulos Group were able to get $250k of that placement stock.
Hence my earlier post (Friday) that there is a link between Fosters and Copulos, possibly in an advisory capacity.
Hope that helps answer your query.