GBM 0.00% 0.8¢ gbm gold ltd

will it go into voluntary admin now

  1. 25,569 Posts.
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    "Greater Bendigo Gold Mines Limited (ASX:GBM) advises that it requests a
    trading halt until market opening on Thursday 20 November 2008 while it
    addresses its options.
    The financial stress on the group has been tempered over the quarter but not
    resolved. The board of GBM has various discussions in immediate train to try
    and resolve its financial issues and will report back on progress tomorrow
    GBM has been attempting to finalise matters in respect of drawing of the capital
    notes facility from Pacific Capital as previously advised to the market. With
    current market conditions, the issues facing GBM and the current level of GBM’s
    share price, Pacific Capital Value Ltd (the Fund) has advised that as much as the
    Fund would like to commence investment, given present conditions it would not
    be feasible for the Fund to commence investment at this juncture. Accordingly
    the board advises that this is not a source of funds at this time.
    GBM is not aware of any reason why the trading halt should not be granted"
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