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  5. GOT: Hi Peter. [Goliath Resources Limited]
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Investment Q&A

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Q: Hi Peter...Do you have any comments on GOT's latest press release? Do you feel they have enough money to fund this year's drill program or is there a strong likelyhood of a share offering in the not too distant future? Any change in insider ownership? Does Eric Sprott, (a noted "gold bug") still own 9% of the common stock? The share price is down slightly today which may indicate investor sentiment that a share offering is in the works. Of course that's what's public markets are for!
Jim
Asked by James on July 09, 2024
5i Research Answer:

In its June corporate presentation, Eric is listed as 3.5% shareholder, which would be about 4M shares. It has about $4M cash, but spent about $19M in the last 12 months. This would certainly imply that more capital is needed. It plans 15,000 metres of drilling, including drills in three new potential areas. This should provide a steady stream of news over the balance of the year, but of course no guarantees of success. We think it has interesting assets and potential, and the stock is getting some notice. For its category (small cap developer) we would consider it as having good qualities.