Agree @Gaptrade1 - bit of history there you’re correct on good...

Agree @Gaptrade1 - bit of history there you’re correct on good ol Jose in LRS - scooped up lots in early days around the 1-2c mark and converted quite a few million oppies at 1.2c (I did too lol!) which helped LRS with cash at the time - tbh I thought he sold most of his position out but maybe he hadn’t (?)

He put up $1M (in “work to be conducted“ to earn that interest) to get 50% of the Argentina project + cornerstone in LRS (see below) but then nothing ever happened in Argentina - so never spent the $1M - not that was published anyway or reported - so it basically p*ssed a lot of SHs off - they felt he got too much for next to nothing and CG had thrown it away - but he must have stumped up cash which did help at a time that LRS were scint (no money) so they could at least progress Brazil.




So maybe he is doing the same here to get a position before some hits - it worked really well for him with LRS (ie) get in large when the company is on its knees but has some knowledge of the potential (seen the data room) - not illegal or any skullduggery - just smart business within the rules and who you know lol

The other thing I’ll say about this raise is I think (only my opinion) that he was probably the only one of the “new” or sophisticated shareholders and the raise didn’t get out there much - the deal was done. Based on the published T20 (which could actually be out of date) I’m in the T10 and I had registered as a sophisticated investor - but I was never approached for this raise at all - with the amount of shares he got to get the % control plus a place on the board I reckon it was a deal already done (plus the raise was completed so quick). Someone posted that it’s hard to raise funds atm but I reckon he was already in the frame. They use that phrase “new and sophisticated” all too fluidly imo which goes to the heart of SH / retail mistrust with GMN.

The positive is at least there’s a little cash to get some work done (they’d run out basically) - it’s the next shiney object (REE) so I still do think they’re all over the shop and need to strategize better incl Li. You never know surely there’s a chance of a drill hit at some stage across their huge portfolio . I haven’t done the calcs after these shares are issued but the MC might now push to $15-20M (?) - surely the portfolio itself is worth more than that (maybe just wishful thinking from a major SH lol

Good luck all holders

IMO NFA

Note - I wouldn’t have participated anyway - too exposed as it is