Good to see they finally hit a deadline
So now GMC received A$3.6 million received from PT JGI, though A$2.5 million will be used to pay back that owed under the standby agreement.
So GMC actually only have $1.1M leftover. Anyone know how much more they actually require to finalise construction? I thought it was a lot more than $1.1M...
The dilution to shareholders is another 7%, and GMC only own 75% of the project.
The constant dilution and ever increasing number of shares explains why this share price keeps plummeting.
GMC now have 3.48 billion shares and 1.85 billion options expiring 21 April 2019.
The exercise of those options could cause too much supply of shares - there would be 5,330,000,000 shares on a fully diluted basis!!!
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