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springhill

springhill

Make the drill work for YOU
Joined
20 June 2007
Posts
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MC - $1.7m
SP - 0.9c
Shares - 185m
Options - 4.5m
Cash - $430k

According to their latest quarterly, GBX do.... not much.

Oh hang on, wait! They found some paperwork. Enjoy.

Slovak Uranium Projects:
Historic Drilling Program
GB Energy has uncovered a 1960s drilling program in the vicinity of the Kluknava and Vitaz-II licence areas and will defer exploration work until the data can be analysed.
● During the 1960s and 1970s, Slovak Socialist Republic state-owned enterprise Uránový Prieskum explored for uranium in the region, identifying numerous radiometric anomalies.
● Following a recent, extensive review of soviet-era archival material, GB Energy has uncovered a 1960s drilling program.
● Preliminary analysis of the 1960s drilling program suggests that at least 11 holes of 140m+ depth were drilled within the Kluknava licence area during the period 1962 to 1964.
● This material needs to be translated, accurately geo-located and interpreted with modern techniques.
● Given the potential for data that was generated from this activity to provide new information relevant to the Kluknava and Vitaz-II license areas, and the potential for the discovery of further relevant archival material, GB Energy will defer any new exploration work on the Slovak licences until the data can be fully analysed.

CAPITAL RAISING
In March 2012, the company advised the market of its intention to raise approximately $760,000 by way of a non renounceable rights issue to shareholders at a ratio of 2 for 5 GB Energy shares and priced at 1 cent.
It is still the company’s intention to proceed with the capital raising and it will make its decision subject to market conditions.

NEW PROJECTS
During the quarter, GB Energy continued to evaluate project opportunities in Australia and abroad. To date, no projects have satisfied the prospectivity and financial criteria.
 

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Wow. What a chart!
Should be some peeved shareholders and ex shareholders about!
 
GBE worth a revisit to see if there has been any physical activity since my last post.

There has been tangible progression on assets held and assets recently acquired. Cash position is a concern at this point. It depends on the level of dilution required to raise sufficient capital to advance projects. The number of shares on issue after that would most likely rule it out of contention for me to show any interest. A cap raise and subsequent consolidation could sway me towards GBE.
There are multi faceted chances of some kind of success for this company, forward looking capital structure being the area of concern for me.

MC - $1.7m
SP - 0.6c
Shares - 278m
Options - 2m (unlisted)
Cash - $670k

Update on Exploration Licence Applications 31/1/13
SOUTH AUSTRALIA
GB Energy has pegged another Exploration Licence Application (ELA 2013/13) on the Stuart Shelf, an area on the north east margin of the Gawler Craton identified by Geoscience Australia as highly prospective for Iron Oxide Copper Gold (Uranium) – IOCG(U) – mineralisation.
The new ELA 2013/13 totals 43km² within the Olympic Dam District and is located approximately 35km south of Roxby Downs. Previous exploration in this area has been restricted to limited wide-spaced gravity surveying and there has been no recorded drilling.

Analysis of 1960s drilling on Slovakia licence areas 12/3/13
Analysis of historic data complete/nearing completion. No drilling program annoiunced yet.

GB Energy accepts offer of Exploration Licence on Stuart Shelf 13/3/13
GB Energy is pleased to advise that it has accepted the offer of Exploration Licence (EL) 2012/280 by the South Australian Department for Manufacturing, Innovation, Trade, Resources and Energy (DMITRE).
EL 2012/280 covers 945km² of the Stuart Shelf, an area on the northeast margin of the Gawler Craton identified by Geoscience Australia as highly prospective for Iron Oxide Copper Gold (Uranium) mineralisation.

GB Energy accepts offer of second Exploration Licence on Stuart Shelf 5/4/13
GB Energy is pleased to advise that it has accepted the offer of Exploration Licence (EL) 2012/298 by the South Australian Department for Manufacturing, Innovation, Trade, Resources and Energy (DMITRE).
EL 2012/298 covers 932km² of the Stuart Shelf, an area on the northeast margin of the Gawler Craton identified by Geoscience Australia as highly prospective for Iron Oxide Copper Gold (Uranium) mineralisation.
 
On September 21st, 2017, GB Energy Limited (GBX) changed its name and ASX code to Kalia Limited (KLH).
 
On February 7th, 2020, Kalia Limited (KLH) changed its name and ASX code to MCB Resources Limited (MCB).
 
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