Unfortunately, they had to secure a lot of capital to develop the project and weather the storm. So many developers got caught during the pandemic with raising costs and less funds available.
With market sentiment this bad, I believe is clear that they won't get financed alone and another cap raise would be a waste of time.
It's been almost a year since they announced that other interested parties were having a look at the project.
GPR intention may be to either do a JV or really sell the company (at the right price)
Even on the last ann, you can see there were technical guys looking at everything whitin the project. From the deposits, wharf, housesetc. I bet many were from other companies writing assessing the assets and making a final evaluation.
I believe there will be no new CEO
But if there is then, it means they will try to continue drilling and developing (housing etc) until the market can reprice the project.
Unfortunately, they had to secure a lot of capital to develop...
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