How much cash would GDN have in the bank now to fund connection of the pipeline and fracturing?
The last quarterly (end Sept), they had 650K in the bank, 500K debt, and 300K/quarter admin costs. Since Sept, how much would have flowed in from WCU sales?
The last substantive announcement was 23rd November, with many plans mentioned, all of which will cost considerable amount of money to progress.
For a company in GDN's position, the management should be doing whatever possible to stay forefront in people minds and to spruik the assets it has. At the moment it would struggle to raise capital at 2 cents.
GDN Price at posting:
5.0¢ Sentiment: Sell Disclosure: Held
