no news good news? n/c, page-3

re: news - not good news At 31/12, they had the following Liquid position:

CURRENT ASSETS:
Cash = $2.9M
A/Rec = $0.3M
Inv = $5.3M
Other = $0.1M
-------------------
Total = $8.6M

CURRENT LIABILITIES:
Payables = $5.7M
Int bearing liabilities (Bank debt) = $10.3M
Provisions = $1.8M
-------------------
Total = $17.8M

Quick Ratio = .48 (CL exceeds CA by a 2.1x ratio)

Adj Quick Ratio (exclude Other & Provisions) = .53 (CL>CA = 1.8x).

CL exceeds CA by $9.2M (Un/adj), or $7.5M (Adj).

As for the Suspension, a Trading Halt can only last a maximum of 2 Trading Days. Recently, the ASX trialed extending the Trading Halt in certain select circumstances, other a Suspension from Trading is the next step.

The fact that GTM has now been suspended from trade, even though this has been done at GTM's request, nonetheless suggests that the news is not good.

A requested suspension for a further 48-72 hours will take GTM through to the weekend and into next week.

I, therefore, doubt that it will resume trading (ie: come out of suspension) given its rather poor current liquidity position and the $10.3M owing in "current" bank debt.