GGPChat

Lots of fundraising

Whilst it is good to get it out the way and move forward I personally am not too happy about a 15% discount, no PI involvement but management given the opportunity to buy. I have great faith in SD but this smells a bit nasty. No doubt we will have the opportunity to top-up when the share price reflects the offer price tomorrow.

So the shorts get the lifeline of a "get out of jail free" card, institutions and SD and senior management get shares at a 15% discount and us LTH cannot participate.
Not impressed, so much for SD wanting to increase Shareholder value, not this shareholder and not for some time now!

Fill your boots cobber.


Lots of us have been buying for months now, trying to do our bit to prop up the sinking SP and have no funds left when the share price drops to the offer price or lower.

What have you got to say about this re your convo with SD, Hydrogen? Make every last shorter pay ??? I have no words 4

Amazingly quiet on here considering this RNS... Any respected LTH have an opinion, I'm curious how others see this.

Cheers

SR

Sorry Hydrogen it was not you who said that my apologies

At times like this you have to look at the bigger picture,don’t look at the SP tomorrow and get upset, consider what is required to get from Junior Explorer to mining. Allow Shaun to do his job. Hindsight we all would have reduced our holdings in mid 30’s but we didn’t. Hopefully if funding sorted is announced it will be the catalyst for SP. Keep the faith buy or look away tomorrow.

Does anyone else feel really let down today or is it just me?
After Newmont walked away, I never expected to be as downhearted with GGP, as I am today.
Having been on AIM stocks for so many years now (GGP since 2017) this one feels like one of my lowest points. Unfortunately, it’s not the amount of money I have invested in here (average 19p and £70k down, doesn’t help) but the fact that I feel that so far both CEO’s have let shareholders down in the 10 to 12 months.
I should have realised as both are II men and would always look after their own. Firstly, Heddle, selling his shares (Fine, I can understand that) but praising up GGP on twitter whilst selling almost 85m shares at the same time, and after today’s news, Shaun Day allowing on II’s to buy at a ridiculously low price, giving the shorts a opportunity to bail out and helping himself and the board to a few hundred thousand shares at only 8.2p.
GGP shares have been decimated on his watch and unfortunately, I have been buying all the way from 33p and even bought another £2k today at 9.35p.
I suppose my shares will go in the bottom draw for a couple of years now.
However, I’d just like to say a mega thanks to Bamps21, Paddy, Bottle and a few others on here, for sharing all your knowledge and wisdom. if we do meet I will happily buy you a few beers (or whatever your tipple may be) and finally, hydro, I have read what you wrote today and hopefully you feel as let down with about what has transpired with that RNS.

Sorry if i have upset anyone as that's not my intention, it is not my intention and hopefully there will be a much happier post from me soon. In the meantime....

Love & Peace, all GGP shareholders.

Think I have to voice my displeasure at this reduction in offering SP if noone else is going to! A tad too low for my liking however necessary fund raising might be. Too many unexpected less than pleasing actions for my liking. :

I thought Shaun had said we had too many shares in circulation already, so whilst I am surprised/disappointed by the raising, perhaps there is something akin to the bank term sheets that gave Shaun little wriggle room in order to get the best terms. I am trying to keep positive but need some help from Shaun and his strong BOD Team as this continual SP decline is getting tedious. Come on Shaun show us some really good news asap!!!

Tomorrow will we be in a better position than yesterday?
I think we definitely will be with certainty regarding a lot of funding required and a far better view of the future.

We’ve done the hard bit.

Evening all,

Read the RNS again fully. Management participation is £108k aggregate. At ~15% discount they are getting to participate at approx £15k discount to the relevant closing price calculation basis equiv of £127k, in TOTAL. Let's say that's across 5 individuals so a saving of £3k each.

Hardly getting fleeced by management are we? (in my view, though I would of course have liked to participate in the raise along with everyone else).

And at a minimum gross proceeds of placement target of £25M, again management participation is 0.4% and far less if the uptake is higher.

Have some faith y'all!

The placing is open to new and existing eligible institutional shareholders. Tribeca subscribing to more than half. I don't think they are going to sell these in the open market. The shorts will not be closing by buying the placing shares.

The placing at 8.2p guarantees it is fully taken up and Tribeca will also be making a loan. This sees GGPs share of the costs at Havieron through to production. Anything extra will be used for more exploration drilling.

Some are expecting the SP to drop tomorrow. I wouldn't be surprised if the opposite occurred.

Have faith in Shaun. He done well for us so far. Don't think he's sold you out.

For me the placing was expected.
The discount is disappointing, but also shouldn’t be completed unexpected - SD/the BOD/GGP has form for this on a previous placing.
It’s disappointing that PIs cannot take part, but given the SP will likely drop to that 8.2p or a similar level there is likely to be the chance to purchase at that discounted rate.
I do feel for any LT holders who have recently purchased, and those who have been regularly buying and have no funds to buy now.

PLeased to hear it was it was oversubscribed and that directors bought in. Cash in bank to help out with the loss of the 5% money. Interested to know the details of how the placing money will be allocated within the company.

Shaun explains in the Proactive investors interview that the euro cap meant that PIs could not take part this time which he was disappointed with.

I was somewhat surprised to hear that the euro rules prevented the issue to retail investors. We are out of the EU now aren't we??

The target to raise was £25M & it has raised £30M.
Am I right in thinking that £25M was thought to be enough to get us mining?
I wouldn't have thought SD would want to have to raise funds in several stages.
Maybe this takes the uncertainty of finance away?

lebugue-addick wrote: ↑Thu Aug 25, 2022 8:41 am Shaun explains in the Proactive investors interview that the euro cap meant that PIs could not take part this time which he was disappointed with.

The cap (“threshold”) is the maximum amount that can be raised in a 12m period without publishing a prospectus. GGP used up its €8m in the Primary Bid offer late last year.

If GGP had wanted PI’s to participate in this raise they could have published a prospectus, as is the case for all raises exceeding the threshold. There are many many raises >€8m where PI’s are able to participate.

It’s a little disingenuous of SD to represent a self-imposed limit (a consequence of the decision not to publish a prospectus) as a hard regulatory requirement.

Think about it. A clear financed path to production with more available should it be required.
Not bad for a minnow that's now going places at pace. Now also have the 30% of the further generated wealth of Havieron. Whats not to like and Just suppose one of our other portfolio of prospects hit then the sky would be the limit. Can you in investment terms pass that by? GLA