To reiterate the facts and correct the misinformation presented by wgdt72, the following puts things into some perspective.
The term "cashflow positive" has been superseded by the term "profitability" now that funds from the recent Cap Raise (aka the Convertible Notes) are added into the equation. It is estimated that we will be profitable this qtr. The Sept Qrtlys should indicate either a $1.04 million or $800,000 profit depending on which estimated Sales Receipts you go off (June Cashflow or Activities Qtrly).
The following is as announced by the company in the June Qrtly Cashflow Report:-
Please note that there is an obvious typo error in the bottom term line with "cash outflows" should have read "cash inflows" According to the above, we should be profitable to the tune of just above $1m.
It is estimated, therefore, that Cash in Hand at the end of this Qtr should be $2.5 million.
With further improvements to production rates and metrics, calculations suggest that a cashflow positive status may finally be achieved by the end of the Dec Qtr.
What I believe the company needs to work on with real diligence is cost-cutting. Some of the expenditure items need serious addressing IMO.
I am with @dugsab on the big boys' game playing out in the background. I believe the fact that the company chose not to submit an Annual Report as it did this time last year is quite telling. It even states in the Prelim Report that it should be read in conjunction with the annual report and with any public announcements by Bass Metals. Retail investors generally don't bother to read much of reports let alone in conjunction with several reports. Lucky that we have some posters here who do, but huge shame that they get abused for doing so and sharing their DD.
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