revival of hk listing?

I've had a second look at the Dec Qtr report and I have discovered that
GXY is actively persueing an extra loan of 100 Mil RMB (about $15.4 mil AUD)
(see apendix 5B)

This is of concern because the same report indicates that GXY has already drawndown $33.49 mil of its $92.924 mil AUD ($100 mil USD) Chinese
Bank line of credit. (Again see apendix 5B)

This would seem to suggest that GXY intends to burn the remaining
$58.795 mil credit line before it becomes cashflow positive.

Perhaps a revised HK listing could be back on the menu before the AGM in May to retire all this debt once there is a SP lift following the announcement of the Li-Carbonate plant being in production towards the end of March. A HK listing for say 120 mil shares at $1.10 would raise $132 mil which would retire debt and leave a few million extra for op capital.

The downside, however , for Aussie retail shareholders is that, again, they would be excluded from participating in the CR to protect their holding from dilution.

Other reasonable comment appreciated.

Cheers

Moorookamick
Sentiment: Hold