MAG 10.5% 8.5¢ magmatic resources limited

Does MAG have a future based on boda drilling results and operating cash?, page-2

  1. 1,770 Posts.
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    pretty pathetic attempt at a thread if you ask me, dont know if it's deliberately obtuse or just venting, benefit of the doubt because this company has become very frustrating.
    However, the answer to your question is literally written in black and white in the quarterly cashflow statement released last week.
    Less than a quarters funding remains. This is calculated by previous expenses and extrapolated forward, given that the guys agreed to a pay cut, the money may last more than a quarter.
    Also stated in the quarterly, if the funding is less than 2 quarters they need to state why they remain a going concern as apposed to almost insolvent. Their answer was that they are confident that will have funding, but talks are not progressed enough for them to announce on market. Ergo, they are at some stage of getting funded, or were when the quarterly was written.

    conclusion.
    read the quarterly.
 
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