Best case scenario is at this stage: Friday: Soph's on board for...

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notlistening14

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07/03/17

17:26

Post #: 23163221
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Originally posted by sudsta ↑

All, i think there is more to be said about the 7.1 rule that Hamish inferred.
I'm going to put my money on this rule needing to be passed which would be post a shareholder meeting.
Also, speaking to a mate who is very familiar with ASX rules and he seemed to think that this would have to be treated almost as a new listing as stock has been suspended now for more than 3 months.
With of all the above taken into consideration, i wouldn't expect GMC to be coming back for at least another 4 weeks MINIMUM i would say IMO.

The only other scenario is relisting without any approval of shareholder meetings to issue more capital as there is no need for it (Sophisticated investor has decided not to progress with project). In this instance, relisting would still need to go through the same general hoops. However, it is likely that this will drag out as GMC would want to do everything they could before telling market the duck is dead.

Whichever way i think about it, it's going to be a while before this chicken comes home to roost. Which for me personally, i'm going to put a 6 month time frame on as i've held this long - may as well not pay tax and hold for 12 months!

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Best case scenario is at this stage:

Friday: Soph's on board for a 2-3c raise for $10-$15m, subject to shareholder approval.

GM held next week (Monday?) approval and receipt of funds sees us trading again by the end of next week.

Then production within 6months!

GMC Price at posting: 4.2¢ Sentiment: Buy Disclosure: Held
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Best case scenario is at this stage: Friday: Soph's on board for...

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