The positive though is why would the company sell its shareholding in WCU just to raise money that will assist in sending it broke? Not logical. $2 million for WCU is a joke that could be replaced by debt finance.
If P3 is not commercial then retention of WCU would at least give shareholders life after death.
It is for that reason that we have to believe that DeBoer is very confident that the field can pay its way and GDN can have a successful life as a gas producer.
To sell all assets to drive a company into receivership would be nothing short of criminal.
I have a feeling these blokes (directors) do not want to go to jail - at least not if they saw the Glenn Wheatley show on the ABC last night.
I can't believe the directors are disposing of good assets at firesale prices for nothing.
GDN Price at posting:
6.0¢ Sentiment: None Disclosure: Held
