I am skeptical that they will run out of cash. Especially given the DSO is not providing positive cash flow, just cash burn. They are running an extremely tight ship. The working capital facility was fully drawn upon, as per various announcements. Hence the 25.5 cent placement occurred so that they had more working capital (ie money to dig up ore in simple terms)... also what happens if they have a CAPEX blowout? $100m or so would kill this stock and shareholders.
Once the site is properly commissioned and if they can CONFIRM they have enough money to be self sufficient THEN this will be rerated. Until then it'll remain the lame dog it is. Infact this was one of the worst performing stocks of 2012 in the ASX200. You don't get that recognition without seriously $%^&ing up.
I'm past beer thanks to GBG, onto the cheap scotch drowning my sorrows (thats all GBG holders can afford now) ;)
I'm hoping for better times from this, i've lost a bit of money like many others. But I can move on and it hasn't financially crippled me. Just hurts.
GBG Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
