CLZ 0.00% 0.3¢ classic minerals ltd

Ann: Half Yearly Report and Accounts, page-2

  1. 9 Posts.
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    As the Current Assets total $894,648 and the Current Liabilities are 2,536,371, does that make them practically insolvent and at the mercy of their creditors who are owed $1,785,523?

    On page 12 of the Half Yearly Report, they say:
    "The ability of the Company to continue to pay its debts as and when they fall due is dependent upon the Company raising capital via equity and/or debt funding."

    AUC has a $5M credit facility, but why would Stock Assist Group Pty Ltd pour money into a boat that is about to go under. AUC lost $9M finding gold with a grade of 1.20g/t which would lose money if you were to mine it in many situations.

    Gold exploration is speculative, but at some stage the music has to stop.
 
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