Hmm, seems that the price has moved up quite a bit since you...

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30/04/16

10:55

Post #: 17640597
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Originally posted by sarge17 ↑

Yep the amount of $$$ GRY have pissed down the toilet running all over Africa has always been totally derelict and incompetent. If Steve Parsons eventually jags a funding solution (he's been looking for one for over 3 years), I doubt that GRY shareholders will ever see any benefit after mammoth dilution and mandated hedging requirements.

Here's what I posted late 2014:

'Back in Jan 2013 about 19 months ago things were looking great. A smashing BFS was released. GRY also had $83m in cash and investments. And the MD states via the ASX release that the Banfora Gold Project is on track for first gold production in Q4 2014 (THIS QUARTER). Now GRY one month into Q4 2014 would have approx $30 cash and investments left and no funding agreement in sight. Man that is a lot of cash to have blown in less than two years ($53m) for no meaningful discoveries and no resource upgrades.'

So roll forward to April 2016, we see that GRY is still looking for a funding solution and is down to its last $10m. They have BLOWN around $73m of shareholders money in just over 3 years. That's about $1.9m a month, every month since Jan 2013.

Shame shame shame.
Good luck to all current holders.

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Hmm, seems that the price has moved up quite a bit since you posted in 2014, and do you think there is no chance of a takeover? Tia

GRY Price at posting: 17.0¢ Sentiment: None Disclosure: Held
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Add GRY (ASX) to my watchlist

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