the SP is lower than it was during GFC, even after the drill results from 2012. for me this means take care.
i also think that Randall might be persona non grata amongst the broking community when it comes to cap raisings. CGM spent through 4m in just over 4months and has nothing to show for it. the quarterlies show CGM only just made it through last years wet season with around 30k in the bank. i am unsure how they will continue if they finish the coming march quarter with only 30k left in the till. i will be reviewing the next report to see if the auditors make a qualified going concern statement.
this is an incredibly sad turn of events for such a promising set up.
CGM Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
