I corrected my post to say that the $947,000 was reported as positive cashflow for the quarter to December & not December itself, this was on commsec through the Morning Star so please feel free to ask Neil for clarification.
To say if they were not a listed company they would be bankrupt is a strange thing to say?
They are a listed company & as shareholders we are all business owners, we can choose to support the company financially or not until it can support itself.
Qbl was a company looking to mine bauxite, this is a costly process that can take many years before reward if any.
Qbl now have a 55% stake in MCL. They have spent money to make money. For anyone to say oh look how bad the books are because they have spent the initial funds required to properly service the new venture is crazy.
There wouldn't be many new businesses in Australia that doesn't have greater cash out than in for the first year or 2. In fact don't business schools teach new business owners not to expect to see profit for atleast 12 months?
QBL Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held
