Ann: Placement to Raise $3.5 million, page-80

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gc2016

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18/11/20

14:26

Post #: 48961193
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Originally posted by Jacko22: ↑

I didn't respond to that non holding poster that swans in here every now and then with pedantic views, because I'm not interested in what he/she/it has to say, but just a quick point on this concern about GRL directors.

I'm sure we all recall that both Messrs Read and Menzies were only appointed at the beginning of May 2020, less than 7 months ago and since that time GRL have been drilling their various tenements. The pandemic was still rampant in Oz and they both accepted a reduction of their board fees of 50% to be accrued till later this year. I haven't gone back to see whether this arrangement is still in place or ongoing and whether or not the 'catch up' has been applied. That would seem a fairly genuine approach by each of them to the situation.
On the point of the drilling campaigns, I'm no expert in these matters, but perhaps whilst these programs were being conducted there may have been some difficulty in them buying into the coy, given the director blackout rules? That would appear to be a reasonable position to take as to why they have not bought in. Probably more so than questioning their loyalty at this stage.

As a comparison, a peer coy, that this non holder frequents and continually defends to the hilt, appointed their latest Director, prior to the 2019 AGM, and he doesn't appear to have acquired any over there either..in 12 months sitting. And that coy has a Share purchase Loan facility available to all and sundry (which for all intents and purposes is the coy purchasing shares for them).

As for the point about GRL being unprofessional in utilising a cost saving, office share facility is just laughable. I'd suggest it is more unprofessional for a junior explorer to fork out full tote odds for premium office space in 2 states, rather than to look for ways to reduce costs. I say kudos to GRL to share the costs across as many expenses as possible, so the balance can be directed to worthwhile pursuits, like drilling.

I'm certainly in the camp that this CR was ill timed, too heavily discounted and not well thought through, but happy to live with it if it means a ramp up in drilling activity.
J22

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Hi, I'm only interested in skin in the game and am willing to give them benefit of the doubt for hypothetically valid reasons they don't own but going forward I would be watching closely their actions to see if they align as mommy ARL and as per directors Buchan and Oshannnesy

GRL Price at posting: 25.5¢ Sentiment: Hold Disclosure: Held
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