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Ann: Quarterly Reports - March 2016-GXY.AX, page-31

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The Dean

13,382 Posts.

1235

28/04/16

10:24

Post #: 17617470
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Originally posted by Thesi ↑

Nothing to shout down on there.

The admin costs I wouldn't be concerned about, provided income starts flowing.

For Sal De Vida they might as well do a HKSE listing to maintain 100% ownership, though Anthony has been clear that he doesn't want dilution and they are looking at a 70 - 80% ownership JV.

The original plan was to bring in $260 million from a HKSE listing. There is a lot of benefits to this namely just buying a converter outright and maximising income with money left for JB & SDV.

The demo project SDV sounds promising and has a potential to bring in $4 million+ p/a (low ball estimate) depending on the grade produced. At least then they are not focusing on building alone.

I am becoming more cautious of the wording used in these announcements.

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So tell about the glass floor of retail investing.

GXY Price at posting: 36.5¢ Sentiment: Buy Disclosure: Held
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