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GXY $2.78

Pro Forma

  1. champers

    154 Posts.

    Here is what Pro Forma means, essentially it is not definite.​


    Assumed, forecasted, or informal ​
    information
    presented in ​
    advance
    of the actual or ​
    formal
    information. The ​
    common
    objective
    of a pro forma ​
    document
    is to give a fair idea of the ​
    cash outlay
    for a ​
    shipment
    or an anticipated occurrence. Pro forma ​
    financial statements
    give an idea of how the actual ​
    statement
    will look if the underlying ​
    assumptions
    hold true. Latin for, according to form or for ​
    form's
    sake.​



    If this deal does go to plan, the elephant in the room are the bondholders ~$62M. Interesting when there is only $50m (pro forma) in the bank. As we now await SH
    approval from both companies along with Chinese regulatory approval current expenses will erode the "Pro Forma" $50m being
    Interest on Tianqi $30m
    50% running cost of Jiangsu
    Exploration costs Sal De Vida
    Maintenance costs Mt Cattlin
    Admin and Directors remuneration

    Yes, the bond holders will need to be renegotiated.
    I am truly humbled by the slyness of the Chinese and appalled at the stupidity of our management and ultimately us as shareholders.
    I will attend the Extraordinary meeting.

    As a shareholder you are being fooled into believing that there will be $50m in the bank

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