Do you or other posters who have followed GUN over the years have any views on what is likely to happen to GUN while we wait and hope for a deal? The money runs out in early 14, and one wonders how the company can raise additional funds given their current position. And without any funding, our exploration assets aren't worth much - just sitting there. And how do we continue on waiting for a partner for Coburn if there are no funds to keep the company going? Seems like a real problem to me, but maybe you or others have a more positive spin on things? Any comments would be much appreciated.
Des,
They've got $3m in the coffers and should last a good while. The admin costs just released are pretty damn ordinary though, maybe there were redundancies in that.
As for Coburn, you are being incredibly optimistic about its chances. It's a $200m plus project capex in its present form, and no one is going to put money into it, especially in this climate. I think there are many better projects that would get funded prior to it just in WA (and they all have questions marks as well).
I think GUN's holders chances probably lay with their copper projects and maybe something more aligned to Bill Bloking's previous experiences.
On a side note, the Iluka report was ordinary. Not making any synthethic rutile, plant capacity at 60% and the stoush starting to spill into the streets with Rio, doesn't bode well for the industry. Any turnaround may not come until mid 2014 and it will be slow grind from there.
Pep
GUN Price at posting:
2.3¢ Sentiment: None Disclosure: Not Held
