Ann: Cornerstone Investment Update, page-68

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betheball

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20/02/17

16:08

Post #: 22754492
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Originally posted by ChinaDragon ↑

I'm not sure why people are expecting an ANN today. Notwithstanding the fact the last ANN said they would update the market by the end of this week when have GMC ever done anything early or on our time.
There's nothing to be read into a lack of an ANN and Pak depositing funds. I've heard nothing to suggest he has and looking at past behaviour it's unlikely the ultimatum worked but stranger things have happened.
The extra time re the update to market was, I believe, to see if a deal could be done elsewhere on funding. To be honest I can't see us trading this month if another deal is ANN. Ultimately until funds are in the bank account or a CR is decided upon we will remain in suspension (my opinion only).
I advised a while ago I have some fairly significant funds invested in GMC (albeit free carried) but it's dwarfed by the contact I have who has over 20 million. I'm sure there are others with more. If you think we are putting pressure on then I can assure you they are putting even more into management to sort this debacle out.
Well done to "TT" for forcing the ASX respond letter - if this was indeed you.
The comments re: Pak buying on market early doors are interesting. No idea if this carries any truth but if it can be proven then there will be a whole storm of cr@p coming GMCs way. Let's hope this hasn't happened.
A point to consider is if GMC do walk away from Pak's investment there is nothing to stop him buying on market and getting control of the company another way.
I will post if I hear anything of significance.
Thanks and good luck all.

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Thanks @ChinaDragon
I agree. Suspension till CR or $. Looking fwd to dropping into their office/s and asking a few questions about this saga. Also, if Pak Nakal was kept in the game 'cause he would smooth out any future problems then what does that mean really?
E.g. to make this problem go away or fast tracked, a company needs to pay abit more? What is the trust level given his prev history?
Its a slippery slope..a tangled web...funny in yes minister but not in reality.

GMC Price at posting: 4.2¢ Sentiment: Sell Disclosure: Held
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Ann: Cornerstone Investment Update, page-68

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