If that blowout is true management should all resign.
It is a $500million blowout or 25% of the total cost of the project. That is a pretty large miscalculation. Especially with only a few months to go to start up. They should have had a better idea of costs long before this.
CFO moved on suddenly. Maybe this had something to do with it.
If they have a capital raising it will ony dilute shareholdings further and you can bet reatil share shareholders will get shortchanged again.
This is the first time I have been really unhappy with this company. Mind they still havent announced it themselves yet that I know of.
Cheers Gmac
GBG Price at posting:
$1.30 Sentiment: None Disclosure: Held
