Ann: Gold Road Increases Financing Facilities, page-15

(Apologies, my previous post did not read well and a couple of inaccuracies, it was written on my iPad)

I'm with Dazedandconfused, and would like to add to it (which is speculation and not financial advice). After digesting the exploration results and specifically;
"Savoie and Beefwood: An initial aircore programme has defined strong gold anomalism across this large area associated with an interpreted regional scale shearz one.... It forms part of the largest (15 x 2 kilometre) coherent gold-in-soils anomaly identified at Yamarna. Aircore drilling at Savoie continues with 20,126 metres completed out of an initial 26,000 metre programme, with multiple assay results still awaited. Drilling to date has intersected a large basaltic sequence adjacent to granite batholiths, with the intrusions ranging in composition from **broic to felsic porphyry (a Gruyere analogue). "
Compared to Gruyere May 2012;
"Drilling to date has identified a 1.5 kilometre long gold anomaly at the sheared granite and basalt contact." That 1.5 km happens to be about the length of the existing Gruyere deposit, which a couple of years ago was approx 1.6 km long by 1km wide.

Justin Osbourne made no mention of Savoie/Beefwood in his 5 July 2019 GOR presentation (from 13:00 m)
, GOR was splitting its exploration focus on prospects in the north of their tenenemant https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD4A%2B0wBmZp%2Fhrke92GA%3D%3D, and then dropped those mid year to concentrate more heavily on southern targets.

Savoie was first mentioned for the first time 7 April 2020 exploration update, also Beefwood had not been previously highlighted as a priority target. I think that GOR have very strong indications as to what the potential resource of Savoie/Beefwood and plan to develop it themselves or be in a much stronger negotiation position if they JV the project than when they negotiated with Gold Field. Having a $250 M credit facility, with a minimum bank balance of $100M puts GOR in an amazing position if a major discovery is made.

If they find a resource the size of or bigger than Gruyere, and needed all cash flow to develop the project, I would forgo dividends if additional funding was needed. I thought the language around not guaranteeing a dividend was interesting and appreciated why some shareholders were not happy about this given current conditions. This increases their negotiation position with potential JV by being able to deploy more cash to self fund if needed.

I have yet to see the presentation or hear what was presented in the age of Zoom (another post so as not to confligate matters). I hope those present were curious enough to ask why Savoie/Beefwood was of such interest from a geological perspective, previous mining analyst seemed to busy picking lint from their belly buttons to ask that and added no value on previous calls.

4 August 2014, (SP $0.39 POG AUD1,397 )GOR announces a maiden resource of 3.8 million ounces, with the share price having bottomed at $0.04 in between. It was not until January 2016, that the SP would not dip below $0.50. GOR shareholders now find themselves now in an incredibly strong financial position with all the needed resources to accelerate the exploration of Savoie/Beefwood. Bring on the results!