What will happen if Gulf is unable to secure the necessary funding requirements for Skardon River ? This possibility should not be ruled out as they have have been in discussions with several parties and or individuals for a considerable length of time which may indicate that they are experiencing difficulties raising the required amount or problems with the conditions and terms associated with the loan. Mezzanine finance which might be one option they have investigated is typically a high interest loan and with cash reserves of only a few hundred thousand dollars in the bank after Graham Reveleighs spending spree it may be very difficult to attract capital investment back into Gulf let alone raise 7 - 9M for the purchase of Skardon River . Mty original question has not been answered and that is how much balance has been put forward for Skardon River and what is the outstanding balance that has to be raised to complete the purchase . I hope Gulf can succesfully acquire the project under reasonable conditions but its not a given and we know how close This company came to administration under the control of Graham Reveleigh and The Honourable Roy Payne who were unanimously voted out by Shareholders so I hope that Gulf can turn the corner but it will take months and maybe years to rebuild the Company and the finances after the damage inflicted under previous Management .
GLM Price at posting:
2.3¢ Sentiment: None Disclosure: Not Held
