GPR 4.00% 2.4¢ geopacific resources ltd

Ann: Quarterly Activities Report and 5B Cashflow - June 2023, page-4

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 3,832 Posts.
    lightbulb Created with Sketch. 1111
    Best of luck.
    The best news in the quarterly is that they have appointed someone to project manage the diverse team of contractors that have been engaged to get a plant built and mine operating (Orange Mining, but I have no idea how good they are or whether they have experience in PNG).
    Have look at the Board and acting CEO. None of them has any hands-on mining experience. They all have finance and investment backgrounds and there is no-one with PNG experience.
    GPR stuffed up its initial effort to get a mine and mine operating. They are now contracting arms length mining experience and that is an expensive way to go, although it could be argued that is cheaper than making another incompetent in-house effort.
    GPR's value is that it is sitting on a valuable and proven gold resource which is now being priced like peanuts.
    Unfortunately for investors, the industry does not seem very interested to get engaged in PNG these days (as shown by lack of interest in other corporate possibilities at outfits like CBY, SBM and KSN).
 
watchlist Created with Sketch. Add GPR (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.