The emporer has no clothes, page-152

From the September quarterly.........

Drawdown of secured revolving credit facility 20.0

NET DECREASE IN CASH AND CASH EQUIVALENTS (32.0)

CASH AND CASH EQUIVALENTS AT THE END OF THE FINANCIAL PERIOD 27.6

Specgoldbug, they had a cash drawdown of $US32M AFTER drawing down $US20M,

so even with a $US15M VAT refund, it is not going to help much, unless the U3O8 price has risen a lot since 30th September. You tell me, what has the U3O8 price done since then.

At the 18/11/16 AGM presentation, they had the gall to put this on page 5, knowing that they had drawn down $US20M in the Sept Quarter.....

" US$25.0M LHM Revolving Credit Facility in place and undrawn at 30 June 2016"

IMO this will be in the hands of administrators before the year end.