Hey Heeman, sadly I used to hold KGD many years ago when they actually showed some possibility of building a gold mine. Sadly... they failed in every way possible. Only the high gold price has saved them getting any sort of interest and the deal they have now achieved - IMHO. That being said, I don't think the project is a bad one, but... its remote, not supported by much infrastructure etc and hence the capex was always going to be quite high. hence the new guys on the block need to add a further 450k in reserves to be able to get any sort of funding agreement (that alone should at the least raise some alarm bells that there is still much to do). They may well do this, but its going to take at least 12-18 months minimum.
So... do I have an opinion, all I say is I don't know GPR, but they can hardly do a worse job than KGD did.
I will be staying well clear, but I did lose a bit of money on KGD, so I have a negative bias.
GPR Price at posting:
4.1¢ Sentiment: None Disclosure: Not Held
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