Ann: Trading Halt, page-29

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niclou

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06/11/20

11:11

Post #: 48684652
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Originally posted by RED328: ↑

Diamond core drilling costs are massive, Porphyry exploration costs, without money you cannot have results.
I am sure this will be a full 15% raise to fund our future drilling.

If I had any notions that management were flippant and reckless with money you can be 100% sure I would be making a noise. I'm not.
I am very conscious of dilution and will be watching very carefully.

I was blindsided by the raise, I expected this next year not now, The Loyalty Options can only take us so far in these early stages, as Sally says, next year has many unknowns to contend with.

It is my sincere hope that next time we raise capital, it will be from much higher price levels.

There are times when we have to trust, I think this is one of these times because we have identified a CHE porphyry system, we have Lewis Ponds with resource and this needs additional work, we have other promising targets and they also need exploration.
We are NOT a junior trying to find something, paying for management fees and lifestyle. We have resources.

We are one year old and have an incredible future, I support management at this time, I feel its justified.
Never forget that the largest shareholder is Ian Buchhorn, he is diluting himself as a director as well. He would have sanctioned this raise, Ian does nothing without serious consideration to outcome.
Good luck all.
RED

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RED, they should have done at least $1m of drilling first, they could have done two very deep diamond cores.
This is my personal view if the raise is true and under 25c, little gun-ho in my opinion.
Not sure what I think of this yet.

NL.

GRL Price at posting: 29.5¢ Sentiment: Buy Disclosure: Held
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Ann: Trading Halt, page-29

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