Ann: Investor Presentation - Resource Rising Stars Summer Series, page-11

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raptureking

290 Posts.

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10/02/21

16:58

Post #: 50869093
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Originally posted by Sarge33: ↑

I think another positive aspect for GML is the fact that its current market cap is circa $10 million higher than Horizon Gold which is next door.

Horizon Gold has a resource of 1.39 million ounces and substantial infrastructure in place. Plus 2 thirds of the drill holes have been drilled to under 50m which provides substantial potential to grow that resource.

'Expanding our HORIZONS at Gidgee' is the title of presentations which is either a coincidence or a play on words and hint of what is to come. I'll let you all decide for yourself.

Peter Langworthy has recently moved to the newly created position of Executive Chairman and as per the ASX announcement will focus on 'business development, growth and strategic opportunities'.

In my opinion, GML will wait until the market cap grows to around $100M plus with drilling results, upgrades to the JORC resource and potentially gold price movement etc so when they take over/merge with HRN (Horizon Gold), they minimise dilution as it will be most likely a script offer.

69% of HRN is held by ZER which has a history of purchasing large stakes in companies, upgrading the resource and then selling it off for a profit.

Expand

Realistically how would a take over of HRN work? Current market cap is ~$46m, would we do a massive capital raise when SP increases (or post a consolidation).

GML Price at posting: 3.3¢ Sentiment: Buy Disclosure: Held
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