GBG 0.00% 2.9¢ gindalbie metals ltd

crikey . . . . . 16c!!!, page-23

  1. 5,268 Posts.
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    Kev, I mean it is not viable here due to the high costs involved with doing business in Australia.

    Look at my previous post re cash flow. KML most likely has 1 month of cash left, tops. That month is actually up as it is May... KML is not shipping as planned.

    Ansteel is a large cap steel producer. They have no problems finding $100m, $200m, $300m cash to inject. But GBG cannot. This lastest deal says it all.

    The quarterly said we are 'months away' from being cash flow positive. Well define months please... We don't have months.... Our shareprice is so decimated there is no other option but continually sell out equity interest in KML.

    I know KML all looked good on site, but from a finance perspective it is in shambles. Costly delays and failed shipping schedules costs money - working capital.

    I'd love to average down and buy another 300,000 shares to help a breakeven point. But I have already put in about $200k into this around a 60 cent average and I am afraid of what could happen if we don't start shipping more ore. This is one sick puppy.
 
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