GMC gulf manganese corporation limited
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Because they owe $9M on 31st August. If the CPs are not...

  1. tt2000
    5,039 Posts.
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    06/08/18
    20:21
    Post #: 34758126
    Because they owe $9M on 31st August. If the CPs are not satisfied, they will not have access to the $7M.

    Knowing GMC, they are reliably late, so they will need to find a way to pay the $9M cash = CR.

    If you read the 3B, you will see the debt facilities (convertible notes). Below are the CPs from the announcement referred to in the 3B.

    Tick tock - 19 business days to go

    Screenshot_20180805-212953.jpg
    GMC Price at posting: 1.4¢ Sentiment: Sell Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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