Ann: Trading Halt, page-27

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thecore

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02/08/24

11:42

Post #: 75042567
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Originally posted by Aussie Eagle: ↑

It seems that some of your fellow holders are questioning you as well - unrealistic pumping and generally ignoring what the facts are as regards the financial stability of the company.

A brief look at the numbers shows they are obviously desparate for cash.
Over $1m burn per quarter and their recent quarterly shows they had just over 6 Weeks cash left.
In 2/3 weeks they're empty so that's why they need another top-up right now.

Their last raise - shares issued on 20 June - was at 0.0037, so good luck throwing more money at them though (imo) they'll have to offer new shares at a much lower price so you'll be happy to get even more for your lunch money.

Market cap is just over $11m
SoI is over 3.1 Billion
Listed options are 640M + 600M - plus other extras, 10M here, 10M there etc..

Combine soi and the bulk of options, you're looking at +4.4 Billion soi
Then, add in the upcoming CR which of course will have attaching options which are always the carrot for the donkey.

Soooo....to raise say, just $2M (and that's only to cover the next 6mths as well as needing even more for the following few months) they need to issue another 500M shares (with oppies) which brings the soi to 5 Billion.

Typically what happens next is a consolidation.

Imo, that's have to be a minimum of 10:1 to make it look a little more attractive for yet another CR.

Those are the basics, and this is only for Exploration !

After that, depending on a decent discovery, there are all the costs and time delays associated with getting it to production - more cash needed...

Yup - pure gamble notwithstanding the quality of the BoD.

Expand

so basically, you are telling everyone on HC that you and your mates (cannabis investors) know better than the energy mogul - the billionaire Luis Monzano- who apparently hold a seat in the company and has already invested a fair bit in the last CR?
https://www.google.com/amp/s/www.batimes.com.ar/news/amp/economy/energy-mogul-jose-luis-manzano-makes-100-tear-bet-on-argentinas-mineral-wealth.phtml

GMN Price at posting: 0.4¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $11.12M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
2	549250	0.4¢

Sellers (Offers)

Price($)	Vol.	No.
0.3¢	49335	1

View Market Depth

No.	Vol.	Price($)
2	549250	0.004
24	12037045	0.003
37	54430380	0.002
23	90124163	0.001
0	0	0.000

Price($)	Vol.	No.
0.003	49335	1
0.004	7556152	8
0.005	18703333	17
0.006	8238612	9
0.007	3727411	9

Last trade - 13.31pm 02/08/2024 (20 minute delay)

GMN (ASX) Chart

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Ann: Trading Halt, page-27

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Is oil undervalued?

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Ann: Trading Halt, page-27

Top Stories

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Is oil undervalued?

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