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1.5¢ great northern minerals limited

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Davy Boy

16,574 Posts.

3967

12/03/18

17:03

Post #: 31694239
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Originally posted by Scarpa ↑

Hmm, as I suspect it is drilling based I would have thought they would have drilled 3 - 4 holes as had enough money for that, see what is there and then raise (hopefully at a higher price). IMO not a good announcement at this stage unless they have got someone onboard, because of dillution effect and possibility of possibly raising at a higher price if drilled a few holes first before CR (but obviously a risk there if drill bit failed but I was thinking would strike Li so would raise at a higher price). I guess lets see what is in it before commenting further, and interested whether any of the money will also be used for OHD. All IMO

Refer to Post #: 31137025 and Post #: 31211464 if want to understand these views.

All IMO

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Hi Scarpa. I guess the issue is do they punt with shareholder wealth?
Imagine if they drilled and didn't hit viable lithium? The forthcoming CR would be at half today's sp or lower IMO and holders would be smashed by dilution.
I am actually thinking this is more sensible and far less risky IMO. Not keen on dilution but a fact of life with no income. DB

GPP Price at posting: 1.6¢ Sentiment: Hold Disclosure: Held
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