Absolutely nothing has changed, still a lifestyle company. No improvement since the company bailed from the Moribishi Project, abandoned the OHD project, NT Potash and Kopang disappeared and were left desperate to fill the void with the next hot commodity to keep "their" dream lifestyle alive.
Greenpower to acquire HIGH GRADE Australian Cobalt and Vanadium focused company ION Minerals. Successful Due Diligence: 18th Sept 2018 https://www.asx.com.au/asxpdf/20180911/pdf/43y74kr02qt0nv.pdf https://hotcopper.com.au/threads/ann-successful-due-diligence-on-ion-projects.4424000/ King ~ quote "The addition of quality battery minerals projects with a clear path to commercialisation in addition to experienced management is an exciting opportunity for GPP" McLean ~ quote "ION has worked hard to secure a portfolio of some of the best high-grade Australian battery minerals projects. We are very much looking forward to the opportunity of working with GPP to advance the combined assets. In the near term we will continue exploration at Lincoln Creek ahead of a trial IP program with the view to be then drilling prior to Christmas. We will also be advancing the Ashburton and Julia Creek projects at the same time." Bear in mind, McLean and Williams (ION Minerals) became the Managing Director and NED of GPP as part of the agreement. ION Minerals was registered 4 months prior to the acquisition ION Minerals was paid, A$970,000 cash, 110,000,000 shares plus a further A$1,600,000 worth of shares (phase 2 & 3 earn in) plus a further A$250,000 for Ashburton
Lets try gold (lifestyle, lifestyle) McLean has been forgiven for selling GPP ION Minerals suite of dud projects - although King et al all completed "due diligence" on said projects. Gold tenements have IMO always been lack lustre but Mclean and the rest of the board have been even more so, how long to get some drilling done? No urgency in drilling, progressing! JORC? Update JORC? Updated resource - maybe an update to the old couch? OH I know, COVID buggered them up? Insipid, inept all come to mind........
As for this "over subscribed" placement - yeah right! 23% discount to sell the placement? 40,000,000 options issued to CPS Capital
Fully diluted SOI after this placement is ? SOI 1,209,050,981 plus 500,000,000 (this placement) = 1,709,050,981 Options 747,547,822 plus the 40,000,000 (this placement) 787,547,822 Total 2,496,598,803 https://hotcopper.com.au/threads/ann-annual-report-to-shareholders.6315833/ Another consolidation coming?
What happened to the divestment of Guyana? What happened with the OHD, you know the company actively engaging with prospective suitors to commercialise the innovation? ~ Although the Company did get an R & D refund (2020) for $155,720 - our taxes at work SMH Good luck with this mob ....... they have been kicking the gold prospects around for over 2 years now!
cheers
GNM Price at posting:
0.6¢ Sentiment: Sell Disclosure: Held
(lifestyle, lifestyle)
(20min delay)