GBZ (ASX) Ann: Notice of Annual General Meeting

Originally posted by pickle1: ↑

Have always had my phone calls with Peter Thompson answered within the 72 hours as per the GBM website ([email protected] will get back to you within 72 hours) not this time it has been two weeks & no contact. Probably aware how existing holders & supporters feel about company direction.

Hence i will have to address my concerns to this forum & see if fellow shareholders can help me out.
This may be the last chance for existing holders to have any say in the company as the 50% dilution in our holdings proposed by the resolutions in this AGM notice will see us at the mercy of the few that have been invited to participate in the current feast upon the company.
And this will not be the last gouge that happens if the company continues to exist as GBM.
(Stibium & its investors will be holding up to 30% of shares on issue if the resolutions are passed)

Nothing released in asx announcements means much from this company.
Rules 7.1 & 7.1a (how do we get from 1.1bil shares to 2.2bil shares in 1 year
Covertable notes conversion price changed from .005 to .003 for a six months extension but convertable within 3 months of AGM? Why do we need the 6 month extension if converting? Because you need to vary the terms so the note holder can be issued 233 333 333 instead of the 140 000 000 released in Announcement . If we look into the detail we probably get to pay the total interest including extra 6 months.

Issue of 90 909 091 shares to profs & sophs at .0033 to raise 300k 9th Oct then this from quaterley.
2. Following the end of the quarter the Company raised $300,000 by the issue of 100 million placement shares at $0.003 per share to unrelated parties (refer announcement dated 9 October 2019 for further details).
Appears the new director & associates where not happy with the extra .0003 they paid so here you go have another 10 mil shares?
Stibium here you go 150 00 000 shares for you & up to 500 000 000 shares for your mates for a half share in White Dam if you get it across the line. Plant off line for 3 years & still have to get SOL to agree to sell other half .
Think you get my drift NOT HAPPY.

item 2 may be our only get out of jail card. Two No votes in consecutive years results in spill meeting. This will be a NO from me
items 3 & 4 two new directors. Prepared to give them a shot although one already in on the feast. YES
items 5 & 6 Resolutions for performance share plan & incentive option plan (joking)
There has been no performance when there is will reconsider.
Incentive plan, you guys have all the incentive you could ask for after the feast.
Resounding NO
Item 7 10% capacity on top of rule 7.1 makes no difference they will find a way round it see above.
Still a NO.
Item 8 ratification of con notes at .005 YES
item 9 there is no option for the conversion of 140 000 000 @.005 as per original agreement . NO
item 10 ratification of prior issue of shares 7.1a makes no difference, ways around this see above NO
items 11 & 12 more detail required for shareholders current level of detail is crap to give away 30% of company. NO
items 13 & 14 Hang on a second fellas 40 000 000 options each? We just gave you extra 10 000 000 FPO at .003. Keep feasting like this you'll bust yourselves along with the company. YES if your conversion price is .007. @ .005 sorry NO.
items 15 & 16 nice gimmee for directors who managed to get the share price down to this level . No chance of getting this amount of shares on market so we will make some new ones. Venezuela tried this approach suggest you look it up. YES but if you dont make enough to pay yourselves & do something for investors this year best pack your bags.

item 17 Consolidation.. So from 1.1 bil to 2.2bil with no real injection of capital into company. Only exploration done is on behalf of jv with Pan Pacific. June quarterly says MMI samples & rock chips around Burke Bore. Employees on site for two weeks results due in Sept quarter.? September quarterly no results program changed to fc-2 & fc-4 areas. Results not mentioned as outstanding.
We only get half of White dam so other half will need funding & as mentioned no real capital injected by doubling SOI so capital raise imminent once consolidtion done. So 220 mil shares after consolidation quickly doubles to 500 mil diluting existing holders another 50% & the game will continue.
Might as well stick with current structure & have 4.5 bil on issue at least it might get some liquidity in the stock. NO
Dont forget to vote might be our last chance
Enough from me
p%$#%d off
Pickle

Expand

Hi Pickle1
Appreciate your input and analysis and I agree. More than 10 years to go from $0.20 to $0.003 when your stated aim is to increase shareholder value -- well that is clearly not happening. I wonder if they will be to late to make anything out of the current POG run

GLTA

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(20min delay)
Last 1.0¢		Change 0.001(11.1%)		Mkt cap ! $11.56M

Open	High	Low	Value	Volume
0.9¢	1.0¢	0.9¢	$14.02K	1.446M

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