To all QGC promoters...I reckon you should have a very close look at the QGC quarterly report issued yesterday.
Just a few comments for you to digest!!
"Nominal income.
Less cash on hand than SGL $7m vs $25m.
Spent more on development last qtr than SGL.
Relying on lending for future needs.
LD facilities of $10m and $25m (cap arr).
Next qtrs cash outflow $17m...where's the $$ coming from...only got $7m in bank...will have to use borrowings or raise more capital.
Are they doing a Bondy/Bell?...take over SGL to get the $$$ in SGL bank???? Net result after they raise $30m note money will be the SGL $25M for QGC.
QGC haven't many wells in the ground...far less than SGL.
Only +++ sfor QGC seems to be that QGC may have a good project and potential sales about to start, and they have CONFIRMED some whorthwhile ## for Reserves, that SGL haven't!
Kidding aren't they??? Whose's in trouble??""
QGC to take over SGL??? As someone on HC so elequently put it earlier ... DREAMIN!
Would appreciate your views/comments!!
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2nd quarter reports - no surprises, page-13
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