re: cash strapped very reasonable to check how much money they got in the bank - Dont worry it concerned me too for a moment too coz I thought everything was covered to production but it pays to also check what other readily convertible assest they have up thier sleeve - like DYL and GGY shares - not sure about JML but together - if push came to shove ought cover any apparent shortfall (tight yes - as they should be in my mind till they start generating $$$ a short few months out
emailed Co anyway to double check situ and dw phoned in response saying they are not concerned coz yes they do have other cashable assets including those mention - also dont think they have sold the mill/process plant they purchased and later opted to sell off (maybe it is in the back of thier mind they can use it later to increase production - dunno - decision was taken to sell it but dont think they have yet)
It was noted that being such a robust project and so close to production bank finance is also to them but bank would prolly want them to hedge some of the prodution and they are reluctant to do that - nevertheless - if push came to shove they could - but i like that they dont want to.
Either way - $$ dont seem too much of a concern really - yes it should be tight but I suspect AlciB is correct in a few short months the balance sheet will look very different - tight till then but doable - to my knowledge not even considering any options that wold lead to dilution as a funding option
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Price($) | Vol. | No. |
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