I said it yesterday Scarpa Ion are smart get a desperate...

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Davy Boy

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06/07/18

10:23

Post #: 34180941
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Originally posted by Scarpa ↑

Comes across that way reading this thread.

I want to clarify one point I made in my earlier post as to why I think a cash payment at each phase by GPP should not have been part of the deal. The private company in this reverse takeover needs a ASX listing to access funds for exploration, full stop. Using GPP is a convenience to that goal.

Why do I think no cash payment should have happened in each phase - it is because the private entity concerned only has exploration tenements and has no income it is currently producing and bringing across, hence why give a upfront cash payments at each phase if it is not bringing across existing income. That is the private entity is just bringing across the prospect of income but that prospect of income requires a successful exploration program funded by GPP (full risk now transferred to GPP) and the private entity should also bear that risk in full IMO (not be given upfront monies at each buyin phase, but the shares given are ok IMO). Or another way to put it, if the private entity wanted to list, it would have cost a lot of money to list on the ASX itself as a public entity so it using GPP so that funding can be pursued for exploration through CRs, an option it did not have previously as a private listed entity.

All IMO

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I said it yesterday Scarpa Ion are smart get a desperate management to take on all the risk......GSM did the same thing.
GPP have certainly not driven a hard bargain......desperate IMO. DB

GPP Price at posting: 0.7¢ Sentiment: None Disclosure: Held
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I said it yesterday Scarpa Ion are smart get a desperate...

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