You can call it "Ion Minerals has sourced a pay dirt tenement" but you do realise the links to it all don't you?
How long was this sourced tenement floating around on Mineral Intelligence's books (the ebay of Mining (private) companies looking for investment funds) - come in, come in GPP have we got a deal for you!!!!
Cameron McLean,
One of the successful businessmen you are referring to is a Director and Secretary of
Remlain Pty Ltd which just happens to be the target of Ion Minerals having the right to acquire 100% of the “Ashburton Cobalt Project” to which GPP will pay Ion Minerals $250K for the project (subject to an exploration licence being granted) and with no doubt at all, that payment will be passed onto Remlain.
Mineral Intelligence own 100% shares of Remlain
On the surface, the benefit/s of the transaction seems to be tipped in “Ion Minerals” favour by a long margin as GPP will be providing all the risks.
It’s a case of “Deja Vu” with
a) The highlighting of “grab samples” akin to the GSM/GPP deal, and we know where that has lead us.
b) The case of no one wanting the projects until GPP needed something to fill their stocking with, “the next big thing” because we can’t complete a project and how are we going to keep our lifestyle dream alive…….
c) The case of a company that is newly formed prior to the “acquisition” as per GSM.
d) Ashburton being a dud with it being passed over by other companies but why not throw in all the excess garbage in the deal, eh!
e) GPP management and the local cheer leaders spruced GSM's credentials up, the same way as they are with Ion Minerals.
Although we will never be privy to the reasons that the "option agreement" has been changed, but as I said previously there may have been governing bodies not happy with it, although the $1,050,000 worth of shares is still the same but presented differently.
I seriously do hope that they have been pro-active and sent a geologist in and taken their own grab samples.
OMG, what was I thinking, GPP and pro-active !!!!!!
I'm with
@tuts where is all the information on
OHD - outcome of review? ordering of long lead time items for the whatever we were supposed to be building, anything from trials progress at Monash? Trench still being paid as a consultant?
Turesi, as for Morabisi in general, they still have approx US$450,000 to spend prior to February unless they are just going to abandon it and spend the money at Kopang - oh wait, we still have Kopang right or are we going to abandon everything and put what remaining hope there is into this new project? The way this mob move, it will be at least 2 years before we get to a PFS..........
I can't wait for the Annual report to shareholders and see what mates got all the cheap shares (Top 20 will be very interesting) who bought/ who sold?
Why did Bulesco leave just before the second placement, how many shares did Xcel Capital get in the deal?
ALL IMO only
cheers
(20min delay)