re: discovery 350000 ‐ 700000 bbls lik...
The reason MacBank is a shareholder of this company is because GGE have a debt facility which was fully drawn down and they continue to issue shares to MacBank.
GGE had to maintain proven developed producing reserves equal to or greater than the amount of its borrowings.If the reserves did not fulfil this facility agrement then MacBank have the right to call for repayment of the debt facility.
They have not done so and have continued to take options in leiu of this but GGE in my view are on a knifes edge and thats why MAC Bank are onboard and the stock price is where its at.
MacBank could easily pull the plug here in my view.
Robbsttarrr
re: discovery 350000 ‐ 700000 bbls lik... The reason MacBank is...
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Last
0.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.52M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 11520000 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 757411 | 2 |
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