re: Ann: Exceptional Gold Intercepts from Bal... Zachary
GMR had $3.782m cash at 30/9/11 and planned to spend $1.7m in the December quarter.
http://www.asx.com.au/asxpdf/20111026/pdf/4220x8947fprcd.pdf
GMR picked up $875k and some shares by selling some tenements in Africa to another explorer (I am assuming this transaction has now been finalised).
http://www.asx.com.au/asxpdf/20111215/pdf/423937jq3t19lz.pdf
If the remaining results confirm that they have a high quality deposit then raising more capital should not be a problem at over 20 cents/share.
It would be great if they could release those results before the Indaba conference which is 6-9 February. That could spark a huge rally, which is what happened last year to PIR after their presentation of their supposed 4 grams/tonne deposit (now known not to have existed, but they have since been saved by very good results from a nearby area).
loki
re: Ann: Exceptional Gold Intercepts from Bal... ZacharyGMR had...
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