GMC 0.00% 0.6¢ gulf manganese corporation limited

No DSO ( Most probably Denied ), page-15

  1. 2,345 Posts.
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    Haha

    Mate, if you think this is bad, you obviously missed Sept '16 - March '17?

    During this time we just about had weekly updates that this deal with Pak Marthen was going to be finalised "imminently", even though it had already actually been signed and executed and notarised.

    Then there were a whole bunch of other deals that were "imminent".

    What finally culminated was a fall from $0.04 to $0.012 before it fell further to $0.006 (losing about 90% value post suspension due to the need to raise capital).

    With $3.0m cash as at December and $3.0M cash burn projected to March as per the most recent quarterly, the only thing imminent is another required cash injection.

    Hopefully this time GMC will be able to close the deal with the funder, as the alternative will be deja vu for those that held this over Christmas 16...
 
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