There is no doubt in my mind we have way too many shares on...

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Infidel75

3,109 Posts.

169

04/02/21

10:34

Post #: 50697881
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Originally posted by CallandPut ↑

I agree. I don't want a share consolidation until we have hit over 1,000,000 oz's in high grade GOLD as a resource. If that happens we would not need a share consolidation. Generally the reason a company does a share consolidation is to lower the total number of shares on register and with a share price a lot higher after the consolidation generally the Institutions not look at any companies until the minimum share price is somewhere in the 30 cent plus range. With a smaller share register the company will find it easier to raise CR through institutions with deep pockets.

If management are saying they see GML as a Tier 1 producer and do not plan on increasing resource incrementally but increase it substantially as stated by Mark Cossom in his latest video presentation on the gateway mining website then the share price will do the talking and there is no need for a share consolidation Just look at DEG from .09 cents to a high of $1.55 cents and BGL from .28.5 cents to $1.49 cents last year without any share consolidations.

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There is no doubt in my mind we have way too many shares on issue .

This is based off my memory of holding cmm through the same cycle

Life of spec explorer to miner , looks like this for a shares on issue point of view

company lists with tennaments
Do some drilling
Add shares due to credit raise
Get results.

repeats the last 3 steps an awful lot.

Build Maiden reserve
Consolidate shares
Decision - TO or fund through to production
More drilling
Secure major funding is mining
Start to build mine and infrastructure
Another share consolidation
Start producing

either way

gla

GML Price at posting: 3.1¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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