With regards to the capital raising recently done at Godolphin Resources.
I would like to share my thoughts initially following the notification and then afterwards having had time to settle down and think about what might be going on.
I call things as they are for me and this is no exception as you will see.
Some context, I am a T20 holder in GRL, I did not see this CR coming this year and it took me by surprise in the same manner as most of you.
I was initially angry at the terms and began questioning myself and my decisions.
I could agree with the $2.5 million raise, I could agree with the additional $1 million being requested for on the vote.
I could not agree with the options with a strike price of 40c to Hartleys.
That was my initial reaction.
I have been in ARL and GRL since the beginning, in this time I have observed, like many of the larger holders, patterns, behaviors, intent and delivery with the legacy directors,
I am a strong believer in looking to the past to get an idea on future behaviors and outcomes that we could expect.
I look to the largest shareholder and director knowing his real $ investment and history, I know this person does not sabotage himself or others, there is integrity there and I am sure many of you would agree to this.
Why, what is thepurpose, is the question I ask myself.We know that we have potentially a massive porphyry system tagged at Copper-hill east.
We know we have a gold resource at Lewis Ponds with much more potentially.
We know they have identified other highly prospective targets , its in announcements.
Lets deal with the top two, CHE & LP.
We know they need to drill these resources to vector in to find the core, they said so and its rock, we need to drill deep and that requires diamond drilling for cores. That’s extremely expensive drilling and there is no way around this.
They need money for drilling, raising capital at times of uncertainty is challenging to say the least.
Do we passively doodle along wasting time and money, knowing what is actually required, or do we aggressively do whatis expected making no excuses for having given it everything.
Its not as though we are drilling green-fields in hope praying for a result, we know something is there and it must be evaluated properly.
If we are right, CHE and or LP will be company makers beyond wildest dreams, Godolphin will no longer be a 20c to 30c stock, we are talking dollars.
Institutions will want a slice of the pie and that will not be easy.
Right now, people with money have the upper hand, we want money and they want opportunity, compromise is warranted if we are to move forward, IMO.
I want considered forward movement with purpose.
As investors, sometimes we do not know everything, in fact legally we know very little, with this thought we are left with limited knowledge, intuition and research into the company and its directors, if we tick the boxes, the decision is yes or no. To be continuously evaluated.
I have researched the company, I have researched the directors, I have researched the past to predict the future and I am of the opinion that professional pedigree persists with GRL.
I do not understand why management have done what they have, but I do know that Ian Buchhorn would not sabotage himself and us in this process when there were other better options available.
I do not want this to go on forever, I want results.
I absolutely believe that management are filling the charter of creating wealth for shareholders, this CR may be a little out of character, sometimes you have to do things you don’t always like, this is perhaps one time under the circumstances that we bend a little TO GET A LOT.
I will vote everything in with a resounding YES
Management have not let me down yet, and I do not believe they will in future.
Having said this I will be watching carefully.
I think management are onto something and they know it, this is not some reckless move to pay wages, this is a very carefully considered purposeful move to take us to the next level.
This post is my opinion and I am being brutally honest in my assessment of the situation.
I am voting YES TO EVERYTHING.
RED
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