GGPChat

This recent RNS surprised me. Why would the proposed ASX listing require a capital raise? I was at the most recent Town Hall and don't recall this being mentioned.

Things are moving really fast. A rapid board response is needed. I'm sure all these ideas were already simmering on the back burner. Following the Newmont/Newcrest deal (if it passes) it will all kick off. Real discussion on this cash raise probably have arisen after the town hall meeting. There will some cost in restructuring the company (as proposed) but also as a response to Newmont assets potentially becoming available. Money is not needed for much other than the neutral effect of swopping assets for cash. An asset that is already producing would be nice to have.

Maltster wrote: ↑Tue May 16, 2023 8:33 am This recent RNS surprised me. Why would the proposed ASX listing require a capital raise? I was at the most recent Town Hall and don't recall this being mentioned.

If we take the Newmont/Newcrest deal as done, then we have a new JV partner on three JV's.

Newmont have said they intend to divest of non core assets as is their way with take overs/mergers.

Shaun has had dealings with Newmont prior to joining GGP, but whoever was at GGP, I would think as soon as the ink is dry Newmont will be at GGP's door.

If we have the funds to buy assets these non code assets we should be in a good position to pick up some assets, (and PI's cannot fund any purchase.)

I think that Newmont will be interested in continuing the Havieron JV only, so we will regain 100% of the other 2 but may have strings attached regard processing of any ore, or the opportunity to have a share of something if found to be viable.

agreed, the only way this makes sense to me is because the BoD feel there could be some bargains to be had after the merger and having the cash in hand would allow them to move quickly. given the ride that the SP has had for the last 18months or so this recent drop doesnt concern me so long as there is a plan behind this....

The way that some insider info was leaked to the AFR is concerning enough, and appears to have been done for whatever reason to cause the share price fall. However, to produce a hastily written RNS neither confirming or denying another possible fund raise unfortunately led to even more confusion, angst and panic amongst PI's, and just has we had yet again gained significant ground with the share price heading slowly but surely back in the right direction with momentum picking up.

SD needs to clarify the situation, as now the cat is out of the bag, and a real spanner has been thrown in the works, he needs to stop all the uncertainty continuing, especially as he's due over here at the end of this month for a 'live' webinar and TH meeting.

I continue to hold and add on any dips, but even with me, there's a point where you start wondering what on earth is really going on in the background, and the difference between what we're being told, and what the actual facts of the matter are. So, those attending the next TH meeting or submitting questions for the webinar, need to ask some real hard-hitting questions, and not pussy foot around any issues.

Hi Midas,

The leak is the worst part of it all. Hopefully SD is not in on the leak strategy. That would mean the retail shareholders do not have any backing left. My guess is that the party buying in the coming issuance is the culprit and SD would be wise to not make this "partner" stronger by increasing their holdings.

Cheers,

F.

Hello there,

It might be a wee bit early to start this conversation, but I’m one of those LTH’s who is suddenly sitting on the floor, hands back, fingers spread, with little 4.8p shaped stars spinning around his stunned head.

My worry now is simple.

Consolidation is coming, as is an ASX listing. No matter whether GGP want to do another raise or not as part of it, will they be forced to as part of the listing? This is a big worry for me. I was naive about the 4.8p listing, but I won’t be for the ASX listing. Does anyone out there know if a placing has to happen, even though it’s a cross listing? If that happens then they may use the consolidation to mask any required dilution.

I’m sure I’m not the only one hurting here and thinking along the lines of once bitten twice shy. I’ll add any research I come up with to here, but if anyone already knows the answer to this, I’d really appreciate hearing it.

Good luck to us all

Hi Greatlanders,

Would someone kindly tell me in which RNS it states that a placing will be required in order to list on ASX.

I have read the most recent 4, but can't find it. Just the date of the RNS would do, then I can check line by line again to locate the ref.

Thanks.

I though they mentioned there was a non dilutive way to achieve ASX listing.

Hi A 2 please,
I thought that too, but some on here are posting as if it might be nailed on. I simply wondered where they got the idea from.
All the best.
Sam.

I do not think a placing is required in a cross listing, it would be optional.
They can turn to the 3 Australian banks who are backing them if they need more money which was upscaled to A$700,000 and none of it used yet.
Consolidation is probably inevitable as there will be over 13 billion shares in issue when Newmont assets purchased, but it is just a higher share price for less shares ( no monetary loss) which I think would be beneficial to the company as we would not then be classed as a penny share. (Possibly 1 for 10).

After the 4.8p raise consolidation might need to be more than 1 for 10 to get it over £1.00.

I believe SD has said in the past that billions of shares is too much, so I think consolidation is going to happen at the same time as the ASX listing. That would instantly raise us to a share price far out stripping any ASX requirement. I’m just worried he’s going to do another placing at the same time - which he has proven again to be his MO to date. The fact is he might have to, as part of the ASX rules. I don’t know if this would be the case, but i want to find out. The answer to that question is going to shape my next move.

Just a quick google this morning has shown me that in order to do an ASX cross listing a company must have a 20% free float.

Here is the meaning of free float;

Free float, also known as public float, refers to the shares of a company that can be publicly traded and are not restricted (i.e., held by insiders). In other words, the term is used to describe the number of shares that is available to the public for trading in the secondary market.

Currently this is what google has to say regarding Greatland’s shares:

Shares outstanding: 5.09 billion
Free float: 4.47 billion

The number of shares is increasing to 13b, and the free float I think will be higher than 20% - purely by extrapolation.

So, it looks to me that SD has no ASX requirement to do another share placing. I believe there will be a consolidation at the time, which I’m fine with. I just hope there is no placing, which if there were, would most likely be in the ball park of a 30% discount - that still hurts.

I will now simply have to put forward the question for the town hall, just to make sure - and I hope he gives a straight answer: Are you planning to do a placing along with the ASX listing - yes, no, or… it depends on the circumstances at the time.

I personally do not think there will be another raise when the ASX cross listing happens.
The 4.8p was painful for longer term holders but we have a tremendous opportunity ahead of us now and in control of our own destiny if the takeover is passed.
We also have a very capable board of directors to shape our future.
Maybe some of the more experienced posters could share their opinion on the cross listing from what Shaun has said in the past.

Hello hizer,

I agree with you. More than ever I think this is a great opportunity. But doing nothing over the past four years has gradually eroded my shares to around 25% of their initial worth.

I’ve come to realise that the market is usually correct. So, I’m going to see how the share price goes over the next couple of months - that should give me an insight into what the market really thinks. I’m also going to put my ASX question forward for the Townhall, just to see if SD can put my mind to rest on the ASX placement question.

For all the LTH’s sakes, I hope we have seen the last of the dilution. GLA

Forgive me if I’ve missed this somewhere but have we been told roughly when this is expected to list on ASX???

Currently planned for completion by mid 2025 (CY) Shiny.

Slide 23 in Investor presentation gives an overview of the Go Forward strategy

https://greatlandgold.com/investors/reg ... sentation/

I think personally at this stage if asking about a potential raise on ASX listing then you'll get a polite 'nothing is planned but if for any reason this makes sense it may be considered' type reply as he has in past guys.

Info. here on Cross and Dual listings

viewtopic.php?t=434

Notes and threads on the topic

search.php?keywords=cross+listing

search.php?keywords=tophat

Yeah, I’m sure he would probably say something to that effect. In saying that, i think at first SD said something like there wouldn’t necessarily need to be a placing, but then went back on this and said there were complications in that ASX were asking for one as part of the process. I can’t remember where I heard this, and it might just be a case of Chinese whispers. But my question that I want answered is simple - will the ASX insist on a placing, regardless.

I was just thinking about my current investment. Let’s just say I had an overall average of 16p. That means, after the share count goes to 13 billion, I will need a market cap of 2.1 billion pounds just to break even.

Havieron first gold has been kicked down the road to 2027. I’m not sure if that actually, in the medium term, reduces the value it will have on our MCap. Is our 30% worth less today than it was two week’s ago? And if so, is that 2.2 billion a long way away? I know we now have Telfer, but in effect is that all we’ll have to bolster our MCap for now?

This is why I’d like to know if we are going to face any further dilution.

Now, investing in gold juniors has been really bad over the past four years, so we are currently at the very bottom rung, where the macro is concerned. Maybe when that turns, 2.2 billion will be reached in no time? And going forward, as far as I can see, GGP, do look like one of the companies they might turn to.

You gotta dream.

GLA