GLM gulf mines limited
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  1. steve50
    374 Posts.
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    19/04/11
    13:29
    Post #: 8288649
    My interpretation is that they have been valuing the equipment up at Skardon River with a view to loaning against it. This process takes time but should be finished soon. With the loan Skardon River is bought off the Administrators and we acquire the plant. The equipment is then sold in a timely manner, we pay off the loan and we are left with maybe $7m in the bank with no debt. Operations then resume at Skardon and cash flow is generated. A very handy situation.
    GLM Price at posting: 2.1¢ Sentiment: LT Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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