go pna, page-76

If posters think PNA is swimming in cash, they are wrong. They are not having to watch every penny and wait for the next concentrate payment so that creditors can be paid, but they do not yet have enough cash flow to pay a dividend. The qtly said

cash = $155m
payment to Laos govt = $30m. Bal = $125m
PK upgrade = $66m. Bal = $59m
BH expenditure = $27m (top of estimate). Bal = $32m
Non current debt = $45m.

Now I know that cash will be increasing with concentrate sales, and the above analysis is a simplification of cash flow, but I am trying to show that PNA is comfortable with the cash they have, but they do not have the ability in the forseeable future to give it out as dividends.

BTW, did you notice that the Puthep copper project in Thailand has a "For Sale" sign up?

HT1