I extracted some info from 2011 annual report,
1. Convertible note $25m - maturing in Oct 2012
2. Creditors - $18m
3. Other payable - contingent consideration (SAC) performance share - $22m (currently will be only $5m as sp from $1.825 to $0.39)- this should be non-cash item
4. KSC working capital - Standard Chartered Bank US$10m - $10m
(as AUD falling, it creases slightly)
5. Loan from shareholders – Bayan Resource - $40m
6. Loan from shareholders – Black River - $9m
These two shareholders loans are clarified as non-current liabilities, terms not disclosed.
Total future cash outflows (1+2+4+5+6)= $102m
Cash on hand as announced on 29 Nov 2011 - $160m
- Sep quarterly report showing cash at the end of quarter is $167.5m, spent $7.5m within two months.
- Moderate high cash burn rate, 2011 operating cash outflow is $37.7m
- Five months cash outflows (Jul - Nov 2011) - $22.5m,
annualized cash outflows is around $54m!!
Current net cash position is $58m - 19c per share.
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