So with this complete, seems a good time to take stock of where we are. Just running some numbers..
130m shares @ $0.90 = $117m mktcap Cash on hand = $17.5m (last qtr ann plus new raising) Cash burn at last qtr = $1.6m
So with nothing changing they now have enough cash to see them through roughly 2 and a half years. Of course lots of things are changing so that doesnt mean much. But we do know that the burn rate is well and truly in their minds and they have been reducing it steadily since the outlays for the new plants.
The most significant piece of news we are waiting for is an update on the Corus project, they are due to have working sheets of steel out of the factory and on display sometime in June. If only we had a good PR team that could milk such an achievement.
GSL Price at posting:
90.0¢ Sentiment: Hold Disclosure: Held
