GDN 0.00% 1.7¢ golden state resources limited

Reasonable amount of cash? They can't afford to repay the loan...

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    Reasonable amount of cash? They can't afford to repay the loan they have. It should have been repaid by now, but they've rescheduled it for mid January at a 16% interest rate. In the hope that the Chinese trying to buy a 15% stake in an American Uranium mine can get regulatory approval, so that he will make his final payment 4 days before the loan is due.

    Nobody in their right mind will give them debt funding. I'd bet that they got the last lot on the basis that it would be repaid from the receipt of the Johnston royalties. They have no such security to put in place for another loan, unless Cliffs will buy them out completely.
 
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