I think having side projects (in this instance Whiteheads and...

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unknownshadow

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31/03/22

11:28

Post #: 60544609
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Originally posted by rlj: ↑

Pretty disappointing raise at 11c when the SP hasnt touched 11c for 200+ days.

No wonder they got more than they were asking - pretty disappointed in both the price and the fact they took up $2m more than they asked for in the terms sheet.

I think it was in the Coffee with Samso video that Andrew mentioned they are looking to bring a corporate person onto the board. I would suggest they use some of the funds from this raise to do just that.

I also would like them to focus on Side Well and Whitehaven project, and not get distracted with Wellington at this stage. I dont like the juniors who jump around looking for the next big thing with no clear focus. Do one thing and do it really well.

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I think having side projects (in this instance Whiteheads and Wellington) is actually a good thing as it helps the company reduce risk by spreading their eggs in different basket. Say for example continuous bad weather condition at Side Well which causes drilling delays or slow lab results which causes delays in planning next drill target. The company can then shift it's focus on other projects. Having exposure to Zinc (Wellington project) is also good as we can bring in other investors who are not just interested in gold. There is very good potential at Wellington based on 'nearlogoy'. Obviously our main focus will be Side Well and building a mine there.

GBR Price at posting: 12.3¢ Sentiment: Hold Disclosure: Held
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