GMC 0.00% 0.6¢ gulf manganese corporation limited

Ann: Update on Cornerstone Investment, page-19

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 2,345 Posts.
    lightbulb Created with Sketch. 539
    No way a long suspension is good - GMC will either owe interest on the debt (iff the Noteholders agree to extend) or will be forced to pay the debt upfront if there is no extension and lose the smelters if they can't pay.

    Worst case here GMC lose the smelters needed to run the project (which has a moratorium.)

    At least after Pak Marthen saga/ suspension GMC still had smelters - but that time saw a 80% drop.

    I think this could be worse if there is no extension, if it doesn't go straight into administration.

    The extension of the notes is vital to the survival of GMC - says so in the auditors note too
 
watchlist Created with Sketch. Add GMC (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.