I.m not saying you're wrong, Herb; just that I am not yet convinced that the game is up in Bangla. Incidentally the GCM sp is now well above the loan to share conversion price of 11p. As has been pointed out by myself and others, Tang is hedging his bets coalwise anyway. Bangla is definitely building coal fired power stations and will need coal from somewhere. Indonesia?
GCM has been existing on a loan facility and is losing about £1M a year. Directors' fees are about 700k a year. When the loan runs out - what then? From last GCM update: "During the previous financial year the Company secured a £3m convertible loan facility to be drawn down upon as required, in order to provide sufficient funding for the foreseeable future. As at 29 March 2016 the Company had utilised £510,000 of the facility. As the current share price is well below the… Read More
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