BFS being done with conditions? Again, what are you talking...

BFS being done with conditions? Again, what are you talking about? The BFS is a condition.

As per the normal studies route, GPX had to complete a DFS. As part of the senior funding package it’s now completing a joint DFS/BFS, funded from proceeds from the Interim Loan Notes, supplied by Castlelake.

As per the announcement, the Interim Loan Notes shall be used to position the Chilalo Project for construction, by funding activities that will facilitate the satisfaction of conditions precedent to the Senior Funding Package.

The difference between a BFS and DFS are so small that the DFS and BFS will likely be one and the same document.

As for shareholder dissolution, given WKT’s egregious consolidation and over 300M shares on issue you realise you sound like an idiot when you proffer this position.

Yes, Castlelake will inject $80M into the company and take 40% because of it, but the Company is only worth <$20M currently, with only 100M shares on issue. Hardly the dissolution party your mob has been engaged in for the past few years.

The average GPX shareholder should be very happy Castlelake is coming on board, and here is why:

• The mine gets built
• The dilution (SOI) is minor compared to other companies (such as WKT)
• The business plan has been stress tested through Castlelakes DD
• They have skin in the game, see Nicholas Nassim Taleb for why thats important for business development: https://en.wikipedia.org/wiki/Skin_in_the_Game_(book)
• The projected capital growth in the SP post-funding remains unbelievably good
• Castlelake represent pensions funds and family offices who are chasing yield - with its equity stake, it means it will hold management accountable to actually delivery and PAY dividends (yield)
• Castlelake could provide further funding for expansion of the project as the current reserves have barely scratched the strike of the mineralisation at Chilalo

I don’t think I have heard anything quite as short-sighted/stupid as you negatively spinning having a global asset giant as our key shareholder.