Agree with you - this is definitely the laughing stock of the...

Agree with you - this is definitely the laughing stock of the ASX!!

As at 30 June 2019, it had:

• $4.0M cash
• $5.2M debt loan at 8% interest (which they forgot to disclose)
• had expected cash outflows of $1.7M for the quarter.

So by end of Sept 2019, it will have $2.3M cash and a $5.2M secured loan against the second hand refurbished smelters.

Now for the funny bit - from today's announcement they require another US$13M to finish construction. (Original budget was US$13M, so appears to have doubled in budget).

US $13M = AUD $20M.

Where on earth are GMC going to find $20M, plus $5M to pay off that loan.

at $0.005 - that's another 5,000,000,000 - yes 5 billion shares required...

not long until this becomes the first trillion share company I think.... even then I think they will still be trying to finalise their second hand refurbished smelters