IMHO,
Management is 100% responsible for the massive decline in the sp!
why? Its all to do with the C/R they did some months backs!
instead of looking at the downside risks, I,e poor drills market sell downs, they decided to only raise enough cash to finish drilling program in Mexico.What a big mistake a proves the incompetence and lack of market knowledge this company has.
What they should have done IMO is a rights issue for the full amount of 45 million shares at about 6.3 cents when the market was strong they would have raise just under 3 million and enough to cover this phase of the drilling program in Turkey.
But instead we now have a company struggling to raise funds to further fund the next drill program! GRM has got to be the laughing stock in the market right now!
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