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0.6¢ gulf manganese corporation limited

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Abacoolloo

404 Posts.

122

11/06/18

17:42

Post #: 33635296
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Originally posted by tt2000 ↑

So basically,

1. Market has had no movement following the funding news (probably as GMC's net receipt is $4M - the $6M less the $2M loan).

2. GMC have given up 25% of project for $6M.

3. GMC have given up title to the smelters

4. Sustaibable power source yet to be found - power cost relies on a subsidy from Indo govt (see rocket's posts)

5. 2.65bn shares and 1.64bn options at $0.005 expiring April 2019 - only 10 months away

6. As at 31 March, $3.5m cash, plus the $6m received =$9.5m, less the $9.3m projected quarterly spend to 30 June = low cash position by end of this month - although there is a $7M standby loan facility?

7. Still no DSO

8. GMC Still have no manganese to process (as they don't actually own a mine site) - They need cash to buy this

Does anyone know how much debt GMC have now racked up, and more importantly when this debt is all due to mature.

Not long till we get all the financial accounts - I don't see the debt levels being a positive influence on share price...

I think a CR is imminent once GMC can issue anther 15% shares next financial year!

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Rinse and repeat...boring

GMC Price at posting: 1.1¢ Sentiment: Hold Disclosure: Held
5 Upvote

0 Great analysis

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