General meeting seeking ratification of 30 + million shares which would enable 30 + million shares to be re-offered under 7.1 & 7.1a for this year which would be another $1.5 mil depending on the offer price in the coffers. Question if this along with recent placements will be enough for decent drilling campaign at Mt Coolon. Or does drilling not occur until we do another raise after AGM in next years raising capability? Further question is who will this raising go to? Believe existing holders should get a crack at it this time. No opportunity for holders during the restructure or recent placements to participate. Having placement underwritten or partially underwritten by decent fund manager would also add some confidence. Question is what offer & price? Same or similar as recent placements with oppies i would support. If no offer for holders & another 25% 7.1, 7.1a next year. Now only 6 months away, i would be reluctant. Nothing will be announced prior to meeting so it appears you choose your own adventure with the resolutions on ratifications. I will be a yes & trust new management not to blow shareholders out the water in their first year. Always unhappy about performance shares or oppies being in resolutions prior to targets for such performance. Seems like a gimme for recipients if you vote before you know what your voting for. Is this performance offering 5% of shares every year or 5% over the 3 years? Read it a few times & struggling to clarify. Question for the meeting but too late for people to make informed yes or no vote unless attending.
No sign of new constitution on Web site so will not comment on that yet.
Have been appreciative of new management who have definitely raised the activity & visibility of the company. Just dont forget gentleman (ALL) shareholders deserve consideration in decisions we have entrusted you to make. Anybody else got any thoughts on the resolutions? Anybody attending if restrictions lifted? Cheers Pickle
GBZ Price at posting:
7.4¢ Sentiment: Hold Disclosure: Held
