this is so far off becoming anything, yet GBG owns part of an iron mine that currently has to be producing free cashflow based on the independent experts report and the current iron ore price, and the board thinks it's a good idea to give it away for no consideration. Remember if the scheme goes ahead, cash dispersed is just cash that GBG already holds. Further, to develop Mt Gunson, GBG need to retain all their cash, not disperse it to shareholders, to meet future project costs of Mt Gunson. If the scheme goes ahead, CODA will have to raise substantial capital within 12 months to keep CODA going.....
And if Mt Gunson future drill results fail to meet expectations, it's likely curtains for shareholders.
Just my opinion, DYOR
GBG Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
