GREY:GBRIF - Post by User
Comment by
RedHorizonon Mar 21, 2012 10:12am
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Post# 19699244
RE: RE: RE: RE: 3rd Qtr numbers out..compared to l
RE: RE: RE: RE: 3rd Qtr numbers out..compared to l Alibaba:
GBN has accounts payable piling up unpaid because they are using all their cash flow for capex and drilling. To bring Komis and Golden heart into production requires further capex. Golden Heart needs a haul road for example. So to accelerate getting up to the 700tpd level the company is considering financing options. But they are all very much against an equity raise. Remember that the company has massive land to drill on and hunt for an elephant but they don't have the extra cash to do that and also expand production. Once we get to 700tpd the cash flow should be great enough to finance both exploration and production capex.
GLTA