It only occurred to me on a 2nd read of the announcement that only after completing the requirement; expenditure of $US1mil (=$Aus1.37mil) in phase 3 alone, we have added some 16% to now own 51% in the Guyana/GSM!!! This means GPP is telling us they spent some $90,000 per hole and only in/for phase 3 - average over 15 holes, which were only a few meters apart at a guess (please correct me if I am wrong)!!!!
This figure is beyond me! Can someone with mining experience or mining investment experience please let me know if this is reasonable and what can be expected?
I bloody hope they have the receipts as I also guess they will have to provide them if/when there is a legal action taken against the company and they are asked JUST HOW THEY SPENT THE MONEY?!?!?!?
This is specially more questionable if the required expenditure on our behalf did not include the work by GSM ... but even so, sill ...
