Ann: Extension of Voluntary Suspension, page-52

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Bugwan64

792 Posts.

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16/11/19

06:59

Post #: 41459391
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Originally posted by xmanrocks: ↑

Ii think you will find the board has probably been waiting on some form of funding( to cover, as kojak points out, a shortfall of funds to run the plant for the next 6 weeks and prior to receiving funds for gold produced over this period) and no doubt new insurance policies after the death of Ryan and the report of this has been digested by the insurers.
The board has to be very careful not to allow TRY to trade insolvent and they will find it hard to get funding on decent terms so perhaps a smaller leaner company maybe the answer.
Another option the board maybe considering is funding from ramcap but that will come with conditions the board and management will find hard to swallow given the open stoush they have been having at board level.
As I have said before the rhetoric the board used against ramcap will not be serving SHers very well right now.
IMO ramcap may will have offered a funding option with conditions that half the board will have to go.
Unfortunately history shows us that boards when put in this sort of position often choose to cover their own butts (jobs).......especially when they have little skin in the game like this board does.
The out come will be interesting,
Will be very surprised if SHers come out of this well but of course the pom pom club still seem to think all will be good and minimal effect to the SP.

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if you place no value on the deposits in the ground then they are trading insolvent... Along with nearly every other mining company.

The issue is not trading insolvent but whether they will trade again.

TRY Price at posting: 11.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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