GMC 0.00% 0.6¢ gulf manganese corporation limited

Share selling survey, page-21

  1. 99 Posts.
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    The lenders were smart this time around, after looking into the ceo and the history of money being used for "director and emoloyee" expenses...

    The main condition of the bridging loan was gmc being out of suspension.

    This will never trade again.

    Regulator has deemed it insolvent, or more accurately, the ceo hasn't been able to demonstrate any viable plan to solvency.

    The 5m loan due last September being the hurdle to solvency.

    Call Hamish, and ask him yourselves about Asic and their view on the loan.

    Mr Fofo won't extend the due date for the loan, as he wants Hamish out. Hamish won't leave and hence investors continue to suffer.

    Hamish will use the official delisting as the excuse to wind it all down. 2 year deadline with Asic is 6 months away...

    Asic won't risk any other person's being burnt. Investors only avenue for justice is class action to fund the investigation into the missing money...
 
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