I spoke to Mark pre the vote ( ps Mark does not hold any shares in GGE), I got the impression from Mark that the 3 mill they would have on hand ( which is in line with the latest cash flow report) would be used to invest in other opportunities outside of O&G.
I agree this has become a long drawn out process, a real kick in the pants for those that have held GGE for years believing it was a good long term investment. I'm amazed that nothing has been announced nor an update been provided since this all took place.
Oil has gone on on a bit of a run of late up about 25% all be it still under $40 - but here we are at pre consolidation levels at .04 with 3 mill cash in the bank and what seems to be no company direction.
I know of plenty of investment opportunities for our 3 mill and one of those is certainly not in a shell. It's starting to look like the timing of this transfer / demerger of assetts was putting the cart before the horse and may have been designed to serve the interest outside of the loyal long termers - not happy with this at all right now.
Burton holds a truckload of shares in GGE would not surprise me at all that he pushed for all of this.
As per usual with GGE - hold your breath a while longer.
Noof
GGE Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
