"Without qualifying our conclusion, we draw attention to Note 1 in the financial report which indicates that the Group had negative operating cashflow of $(3,046,737). These conditions, along with other matters as set forth in Note 1, indicate the existence of a material uncertainty which may cast significant doubt about the Group’s ability to continue as a going concern and therefore, the Group may be unable to realise its assets and discharge its liabilities in the normal course of business, and at the amounts stated in the financial report."
"The ability of the Company and the Group to continue to pay its debts as and when they fall due is dependent upon the Company successfully raising additional share capital and ultimately developing its mineral properties."
And the over paid Directors living in lala land reckon this:
"The accounts have been prepared on the basis that the Company can meet its commitments as and when they fall due and can therefore continue normal business activities, and the realisation of assets and liabilities in the ordinary course of business. The Directors believe that they will continue to be successful in securing additional funds through equity issues as and when the need to raise working capital arises."
Yeah, another CR at what price? 2c !!!!!
Looking very much like another one bites the dust.
HRZ Price at posting:
4.3¢ Sentiment: Sell Disclosure: Held
