Director's sign of confidence, page-4

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grussellt

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25/09/17

09:44

Post #: 27430539
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Originally posted by VYR ↑

Raises a few questions. I wonder why the MD of the prestigeous Greshams was offered and accepted a directorship? He doesn't seem to serve on any other boards. There has been no announcements to my knowledge of Greshams being commissioned for advice.

Who sold the options to him?

Certainly taking on a directorship is in itself a big vote of confidence. Putting his own cash into a stake is outstanding given his directors insight and all the other opportunities he would have detailed knowledge about as MD of Greshams.

Re the underground extensions the announcement on the 25 th May was pretty positive about that.
80 to 160 Kt of copper and 60 to 120 Koz of gold sounds a bit better than a possibility there might be something there.

I also liked the sound of the follow up announcement about what's popping out of the ground at Kanappa and the results of the single hole that has been bored there..

With positive cash flow a decent multiple of the current MC coming up from proven reserves and all that resource area to explore and deliver significant new reserves we could well be in for a multiple of earnings bonanza in the next 18 months.

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I'm sure That Gary Weiss (Chairman of Ariadne) and Tony Breuer would be well known to each other and share similar legal and investment backgrounds. I imagine the options came from a sub-underwriter to the notes issue.

Last edited by grussellt: 25/09/17

HGO Price at posting: 8.0¢ Sentiment: Buy Disclosure: Held
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Director's sign of confidence, page-4

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