- Going to have issues repaying loan to banks. Ansteel will step in, diluting GBG's stake further.
- Share price will drop and for those who are still keen to buy in, this will be your opportunity.
- Knowing there are shorters out there, they are going to take out the $0.10 psychological level and you will have a massive sell out from long suffering shareholders who have had enough.
- Probably only then will the share price go back up.
Too many people hoping and wishing and praying for the price to increase. In the end, the value will still be there when KML becomes cashflow positive, but in the mean time, I think there will probably be more downside considering the deafening silence from the company, no directors buying and the fact GJ has resigned. He probably did this knowing there was more bad news to come.
Just my 2 cents.
GBG Price at posting:
13.2¢ Sentiment: ST Sell Disclosure: Held
