Correction, no outlay by Proto. Seems like Proto provider them with office space in return for shares:
Gathered some points from GNI's 30 Sept Report FYI:
- The Company has entered an agreement with Proto Resources Limited for the provision of office and consulting services on a fixed rate of $5,000 per month. The agreement will continue until it is terminated by either party giving twenty business days written notice or by the Company paying to Proto the service fee for the preceding month.
- On 30 June 2009, 3,000,000 attaching options were issued in lieu of cash consideration otherwise payable to Proto Resources & Investments Ltd for the provision of office space and services
- Proto Resources Limited, a company of which Mr Mortimer and Ms Darby are a directors, provided office facilities and access to personnel to Global Nickel Investments Limited during the year. The amounts totalled $85,000 cash fees and 3,000,000 ordinary shares valued at $90,000. The balance of $87,334 was recorded as debt forgiven.
- The names of the twenty largest ordinary fully paid shareholders as at 28 September 2009 are as follows: Number Held % Held of Issued Ordinary Capital Andrew Kenneth Bruce Mortimer 5,312,500 7.842 Proto Resources & Investments Ltd 4,243,750 6.265
PRW Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held