start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

4/1/15

Gran Colombia Gold (GCM.to) 4q14 results

Here's the NR and oh, how I love these guys. All forward-looking and 2015 outlook and production and stuff, plus they're apparently going to having meaningful talks with the people owed money on those gold and silver notes, too. They even had the chutzpah to put this table in...

...and label it "balance sheet", as apparently that's all you mouthbreathing retailers need to know about the numbers and stuff. However the one thing that Fino and his pals weren't so keen to point out to you was this:

Working capital is now negative $144.13m. And fwiw, cash treasury as at 4q14 was $0.767m. That's not a cash crunch, it's a red dwarf star collapse. By the way, it was good to get confirmation that Frank Holmes' fund still owns 12% of this trainwreck. What's more, his US Global lent them $2m in cash during the period too. Funny how people aren't so worried about throwing good money after bad if it's not their money, innit?

If you'd like to know more about the near-term future of GCM.to, check the Allied Nevada chart. In the meantime, laugh along with IKN about the way in which GCM has rallied these last two days. Those GMP guys are good. Oh, they're good.

PS Apparently red dwarfs don't collapse. And apparently i'm a dumbass for not knowing that. Fair enough.

PPS: The morons coming over from CEO.ca this morning can now stop. Go back to the asslicker Humphreys at his Frank Giustra bankrolled sycophant entertainment site and stop bugging the people who have a freakin' clue about how they're being ripped off. Ignorance is bliss, so stay blissful.