GMC 2018 Closing Low, page-16

How do you know all these stocks that have lost so much value over the same period in which the ASX (and most stocks) have made new highs. I would struggle to name one - except GMC of course

I think most would forgive @teerak for what he said, as you do have to be pretty unlucky to hold losing stocks in the current economic environment which has seen money flow into equities.

As for this comment "Lol he mentions the options but not the increase to the market cap when they're converted... also the 7m available to us if needed."

I calculated the market cap on a diluted basis (ex cash).

2,656,722,860 shares x $0.01 = $26.56M

1,631,658,304 options with a strike price of $0.005 =
1,631,658,304 x $0.01 = $16.31M less the cash GMC receive
cash = 1,631,658,304 x $0.005 = $8.15M

Total Enterprise Value / diluted market cap = $26.56 + $16.31M - $8.15M = $34.7M (As stated) - this for 75% of the Project

The $7M debt facility does not impact value until it is drawndown and the funds spent - then it increases the value of the business (bad)

(A lower business value is more attractive, as it implies it is undervalued) - so not entirely sure why you think a higher market cap is beneficial, (especially in comparison to 25% of the Project that was given up for $6M).