GDN 0.00% 1.7¢ golden state resources limited

all still rolling along, page-97

  1. 26 Posts.
    TCF, whether flows are 1.5mmcfd or 4mmcfd we will now have tangible asset backing on US soil verified by the Utah state govt. This will open many doors. There would be no reason why we couldn't secure finance to fund completion and expanding the project at this point. In fact, the banks should be tripping over themselves trying to get in on it. The company have stated in earlier announcements that financing was a preferred option over diluting the stock. I see this move as a win/win for GDN and a must for their business plan.
    If they wanted to take their time and sniff around for the best deal they could/should draw down some of that 5mil funding that is currently on tap.
    Further, if the coy do finance and negotiate a cheap rate to drill many wells the SP won't be capped by placements which would probably push the oppies over the line before November. Then they could pay off the finance... and drill another 20 wells.
    IMHO they can't afford to keep capping the stock like they have been....it's time for them to show the initiative in this area.
    Plus interest rates are very cheap in the US right now...perfect timing.
 
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