Questions for AGM
K613 thinks that since JJ invested a billion dollars into the mine that GBK 's value goes up by 25% of that amount. What in fact happens is that before any profit is realized by anyone, that billion dollars has to be paid back to JJ. That is a detriment to GBK, and it's getting bigger. How many years it will be before the mine turns a profit? (I would guess at 4 or 5 years) Factor in that GBK will have to issue shares to cover expenses for all that time. How much would it cost GBK to do their OWN feasibility study, and why don't they?
Does anyone know the legal reason why JJ thinks they are entitled to dilute GBK's 25% share? How long will it be before the court of appeals hears the case? Have they even got a date yet? Could it be a year or more away?
The above unanswered questions might explain the .23 share price.