Australia's largest stock trading and investment forum Australia's #1 stock forum

GSR

0.00%

1.1¢ greenstone resources limited

Thanks Dave you always paint the picture how it was, how it is...

First 28 Last

Share
Profile

Follow
Lowkeyinvestor

4,138 Posts.

1404

13/02/24

18:17

Post #: 72387784
Share

Originally posted by davybabyk: ↑

Well - it certainly explains the consistent lack of effective action by Greenstone for the last long while. So much potential at Burbanks - so little progress. And yeah, it probably also explain the dismal share price action over the same period, despite the gold price setting new records.

So on that side of things, I feel really exploited and let down.

However - looking at the doughnut rather than the hole - Greenstone was low on cash and it was hard to see a way forward. I'm inclined to believe that Horizon really does want to be a mid tier gold producer and I'll be happy to support the merger - even though I'm pretty unhappy about the path which brought us to this point.

Surely FMR will support use of their mill, so the merger solves a problem for Horizon and offers a path for GSR shareholders to have a position in an actual gold producer. The merged entity retains GSR's share of Mt Thirsty - so if that ever goes anywhere we remain a part of it - but gold is the story right now and probably for quite a while. Under some scenarios the gold price could go much higher still, and that does us no good at all if GR remains stalled with a great gold asset and no way of getting it into production.

I can see mixed feelings expressed on the HRZ threads, and here, but this merger gets my vote for the above reasons.

Like Dutton, I'm gonna bitch (as above) and then fold.

Cheers

Dave

Expand

Thanks Dave you always paint the picture how it was, how it is and how it could be. I will hold also and support the merger. I'v been growling about this mob of directors for a while now after realising some of the game plan and I am tired.

GSR Price at posting: 0.8¢ Sentiment: Hold Disclosure: Held
7 Upvote

2 Great analysis

Reply

Top Stories

AI stocks: What to expect in 2024-25

Talking the US election, the spectre of Trump and what's hot on the ASX200: Wealth Within

BYH

Bryah gains $408K government rebate for work on copper target Narracoota

IVR

Investigator Resources hits 8m @ 1.06% copper on-site Stuart Shelf JV project acreage

WC8

Leia pegmatite pulls up recoveries of 84% lithium for Wildcat in WA