2 years ago they had $US13m in the bank, 1 year ago they had about $13m in the bank. They now have $16m in the bank, not really an outstanding performance.
They keep making huge looking profits, then have to write off past capital expenses (mine development) as a loss. They count 'mine development' as an asset, when it is a cost. If it wasn't a cost they would have far more money than they actually do.
If the cash balance actually starts to go up significantly, enough to pay a dividend, then I'll believe they are making money, but for years they have had only around $10-15m, yet have been showing glowing profits some years, then a huge write off, yet cash stayed around the same level.
It is not hard to work out who is making all the money with this mob, and it's not the shareholders.
- Forums
- ASX - By Stock
- X64
- Ann: Half Year Results December 2015
Ann: Half Year Results December 2015, page-41
-
- There are more pages in this discussion • 24 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add X64 (ASX) to my watchlist
|
|||||
Last
57.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $129.8M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
X64 (ASX) Chart |
Day chart unavailable
The Watchlist
RMX
RED MOUNTAIN MINING LIMITED
Lincoln Liu, MD
Lincoln Liu
MD
SPONSORED BY The Market Online