Ann: Investor Presentation - Company Update, page-50

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greygod

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28/05/21

16:14

Post #: 53494304
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Originally posted by zebster: ↑

More misinformation. (I'd call it disinformation if I could be certain it wasn't based on ignorance.)

Let's return to the March quarterly (p.4):
"As at 31 March 2021, the Company held cash and current investments totaling $15.4 million." (p.4)
and
"Poseidon has forecasted expenditure of $7.6 million over the next quarter, of which $1.7 million is estimated to complete development of the Golden Swan drill drive, $3.4 million to fund exploration programs and $0.1 million on the Windarra Gold Tailings Project. The remaining expenditure includes support services for works being undertaken at Black Swan, care and maintenance costs at Lake Johnston and Windarra and corporate costs." (p.5).

So, by the company's own published numbers, the cash balance for end-June is expected to be ~$7.8m ($15.4m, less $7.6m), after having incurred $3.4m of the exploration (GS maiden) drilling costs for this quarter. There will be more drilling costs incurred in the July quarter, as work wraps up, but the point here is to lay out some rudimentary bread crumbs that almost anyone should be able to follow.

Would be nice to see some substantiation around the claim of $7.8m cost to drill (up to) 13,000m, but I reckon it's unlikely to be forthcoming.

Anyhoo, a good day on the board today. Now where's that filter switch...

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Good one Zeb

POS Price at posting: 6.7¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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