GSR 0.00% 1.1¢ greenstone resources limited

Ann: Burbanks Continues To Deliver High-Grade Drill Results, page-2

  1. 4,466 Posts.
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    This announcement should steady at least the slow flow of selling and likely see buyers take the opportunity to accumulate from here.

    This cut and paste from the last page is insightful in my humble opinion given the sp has backed down to the issue prices quoted.

    Quote: DRILL FOR EQUITY
    To expediate the completion of the Phase-1 drill campaign and subsequent drilling at Burbanks, the Company has
    entered into drill for equity agreement (Agreement) with United Drill Services Pty Ltd (UDS).
    The Agreement allows Greenstone, at Greenstone’s election, to satisfy up to 70% of the drilling costs invoiced by UDS
    for the second drill rig through the issue of fully paid ordinary GSR shares (Shares) from its LR7.1 capacity, up to a
    maximum of 20,000,000 Shares, or $500,000. The issue price will be A$0.025 per share, equal to the issue price of the
    Company’s recent placement to professional and sophisticated investors as announced on 13 February 2023.
    Shares issued by Greenstone pursuant to the agreement will be subject to a voluntary escrow period of 6 months from
    the date of issue.
    unquote

    Happy to hold from here. esp.
 
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