Is Joseph Gutnick in financial strife
Is Joseph Gutnick in financial strife? This is the question confronting the remaining Blackham Resources directors after the well known industry investor failed to meet his funding commitments to the company. Blackham duo Bryan Dixon and Paul Murphy fronted investors this week to talk about the company knowing that the Gutnick situation was going to overwhelm discussion about their Wiluna gold consolidation play. They were not surprised. Gutnick could have gained control of the company after agreeing in February 2013 to a $13 million funding package which makes his new reluctance hard to understand unless he has a more devious strategy to get cheap control. This is the worry cited by potential shareholders. Blackham is keen to resolve the cross claims quickly because directors are confident they now have alternative investors lined up and a pipeline of buyers on market.
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
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