GL1 has announced escrow on the 10.268M shares (by BRB) is lifted as of today. Current value + the $6.5M up front received is circa $30M Two potential $10M payments still due - value $20M delayed. 20% of Manna still held by BRB currently worth circa $30M
Current value of the move to put Manna in the hands of a specialist (read connected also) Li stock is $80M not counting the $6.5M received upfront at the end of December.
This is a great result in my view because I am looking at the longer term price of gold and BRB in production earning profits on 1.1Moz and growing through this year. The less dilution the more oz's I own future earnings on. A great stock in my portfolio; largest explorer holding.
The longer term view of GL1 and Manna is also highly prospective compared to the current value I have calculated here. Thanks to Peter Cook and the Board for making that move. GLTAH and DYOR CW
BRB Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
