GDN golden state resources limited

directors wiish coming true, page-19

  1. 7,427 Posts.
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    Datz working capital means nothing it is the future working capital needed to drill more wells and you cannot rely on income from the first tie in to the williams line as the flow rates that we have been told will not be enough.
    Yes they have capital to meet wages etc and can make a placement every six months for an infinite amount of time to keep it that way..........but shareholders are not going to get a return on investment are they!!
    Time to take off the blinkers and look at reality and ask yourself when will we get some transparency as to what is really going on.
    Reserves wise we are better off than we have ever been but look at the shareprice.............Market thinks otherwise.
    Oh and yes i do read all announcements with a fine toothed comb!! They tell me at the moment the company is on shaky ground due to no income as yet with projected income from royalties some time off and just enough cash to keep their heads above water and not have to do a placement for a while.
    Placements will not pay for the next wells unless you want massive dilution....greater than we have ever had!!
 
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