After my post above I done some more digging to see Mark Cossom Managing Director of GML sold our STK 20,000,000 million shares to Andrew Bray Sole Director - L11 Capital Pty Ltd off-market on the 4th July 2023 who is also GML 4th largest shareholder via L11 Capital Pty Ltd and GML sold after STK did a deal with NST for $61,000,000. Not before but after a deal with NST was done including STK getting 1.5 Million shares in NST.
Why on earth would Mark Cossom GML Managing Director sell our GML stack of STK 20,000,000 million shares after STK doing a deal with NST $61,000,000 cash deal including 1.5 million shares in NST to Andrew Bray CEO of STK through his Sole Director L11 Capital Pty Ltd and on top of that who had sensitive information on STK still waiting on results of drilling of STK tenement's from the labs? which you can see in the STK June Corporate Presentation announcement to the ASX on 28th June 2023.
You have Andrew Bray who was the X MD of Gateway Mining now the CEO of STK largest share holder and also 4th Largest share holder of GML through a trust called L11 Capital Pty Ltd who Andrew Bray is Sole Director.
You have Mark Cossom who is the MD of Gateway Mining who was recommend by Peter Langsworthy & Mar Cossom Non-Executive Director of STK and who Peter is Tech Consultant of both GML & STK and X Founding Director of NST & CMM.
Peter Langsworthy & Scott Brown (Directors) who is second largest GML shareholder through Omni Geox Pty Ltd & First biggest option holder of STK. Peter with Mark are both experienced Geologists (50+ Years combined) who are in Management in both camps would have known the STK drill samples along with Andrew Bray before going to the labs which normally takes 12 weeks + in the Labs to turn around. STK release result of New Gold discovery @ Horsewell 31m @ 5.6g/t Au was on 19/09/2023+other results following. Point is Andrew Bray would have known what promising results were going to look like before heading into the labs for testing. Hence why he put pressure on Mark Cossom to sell GML 20,000,000 STK shares to L11 Capital Pty Ltd. See why below
So I raise the same question why on earth would you sell Gateway Mining 20,000,000 million STK shares when STK have just pocketed or ABOUT TO POCKET $41,000,000 in Cash in STK bank account and 1.5 Million in NST shares and you have the knowledge of the STK June 2023 Corporation Presentation on the 28/06/2023.
In Black and White does that not mean Gateway Mining STK shares are going to be worth a lot more in the future with STK cashed up with $41,000,000 in the bank for future STK drilling and exposure to the 1.5 million shares in NST tier one player. And by the way GML still has $1,411,000 in bank as per announced by GML Full year report on the 29th September 2023. WE ALL KNOW WHERE GOLD IS HEADING IN THE SHORT TO MEDIUM TERM.
The question is who really runs Gateway Mining? Mark Cossom or Andrew Bray?
Mark Cossom as non-executive director of STK who was appointed by Andrew Bray CEO of STK who gets an annual salary including performance shares in STK with a total value in year 2023 of $325,315. In 2022 very similar package give or take 4-5 thousand dollars. Same goes for Trent Franklin who is GML 3rd largest shareholder of GML. Source Full year report announced STK 29/09/2023 & GML Full Year Report 29/09/2023. On top of that GML pays Mark Cossom MD of GML $329,353 including super. Mark has similar shares in both STK & GML give or take a 200,000 shares
Who here thinks Mark Cossom has GML shareholders best interest at heart? .
Who here thinks Andrew Bray via L11 Capital Pty Ltd who is Sole Director of the company & CEO STK has done insider trading?
And by the way L11 Capital Pty Ltd has just pocketed on paper a huge profit of $1,260,000 on top of purchase price of $840,000 from buying GML 20 million shares based on yesterday's STK closing share price in only THREE and a bit months.
GML Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
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