Ann: Trading Halt, page-23

Dear Members,

As I understand it, the company has paid the con. notes down to about $4.5M, with 2 years of interest also paid upfront. I think this raising will be for the next 12 months spend, with Newcrest drilling on the east (hopefully to the full extent planned!).
The lack of cash held by a few gold companies I follow is noticeable- Chesser, Turaco, Navarre, Emmerson aren't awash with cash. I wish GBM held $12M in cash to go nuts for the next year and then either go to 25c or go bad!

I think it is fair to say that capital management is a vital part of corporate management, but I wonder if many boards are to geologically/technically smart and corporately ignorant. As a retail holder, it is difficult to know sometimes, and it's hard to discern before it's largely too late.