JSM15,We may not need 'hope' on our side at the moment. The way...

JSM15,

We may not need 'hope' on our side at the moment. The way I see it, GBE had a fairy godmother by way of the Thuthuka deal which was a A$12m joint venture that allowed them creedence to do a cap raising for $5.2. Unfortunately for GBE that deal later fell apart although they did managed to get the $5.2 into the bank account well before the deal fell over. So Mark Sumich of Globe pockets over $1m in salary by way of Chairman's fees and shares during the last financial year, and guess what? Globe are down to less than $2m of that $5.2 now and NO Thuthuka.

So do they currently have the funds to do the works on Machinga? Hmmm. Not at present.

Can they pull a rabbit out of the hat? Maybe or maybe not.

I'm intrigued to see how it all plays out. Will Mark take a pay cut? Will he sell some shares to pay for the works at the RSL/GBE joint venture, or will he expect his loyal shareholders to dip their hands in their pockets for more money to keep him in the lifestyle to which is now becoming accustomed?

Bit hard to take a drop in salary when you're starting to live off the cream I would have thought.

Damn shame if GBE cannot afford it and RRR are cashed up and CAN afford it. A lot can happen in 12 months hey. BTW does anyone play chess? Think 5 moves ahead.

Cheers,
Tangrams