GUN 0.00% 1.1¢ gunson resources limited

what progress from bloking

  1. 733 Posts.
    lightbulb Created with Sketch. 41
    I am looking forward to reading what our highly paid md ($300k pa) has achieved in the last quarter. Our previous MD worked for zero cash during the dark years from 2009 to 2011 and the monies owed was eventually paid back to him. All credit to David Harley- an honourable man. Now the company is in the pinch again.
    From the last quarterly the cash balance was $1099k and the expected outgoings for the december quarter were forecast to total $560k which would a cash balance for the end of december of $539k

    bloking must act soon. either raise cash or sell assets. If he is unsuccessful at either then the company is finished. fire sale of coburn for nicks after spending $30M on it over 10 years would be an awful failure.

    Maybe sell a stake in the project to DuPont for $5M, find a zircon buyer for an offtake and get the banks back on the case. the financial position has changed a lot from 12 months ago. Aussie $ down a lot and construction and labor costrs in wa have been knocked down a peg or two.
    Commodity prices are going ok. The worst is behind us. Global growth is going alright and is slowly picking up. China hasn't gone away. There is space for optimism.

    Bring on an spp at 1.5c in March to raise $1.5M? At least that buys some time.

    bloking has had enough time to make some progress.
    where are the results!

 
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