I would imagine that a lot are in the same boat as myself - waiting on actual news rather than stewing over little nothings.
I am estimating that we will burn between 17 and 25 million this quarter and around 10-15 next quarter based on the last qaurterly. From that point we should be cashflow positive again and still have 165-180 in the bank. As long as they can show that they have a production plan in place going forward then these levels are fantastic. As yet they have not shown that and as such we are where we are.
I don't think people have clued onto the fact that the 15 million for Apollo previously announced was just as the 13 million this time is - for the late payment of contractors (in my opinion). The company has been paying off Laverton for a while and as of the quarter just gone seems to be on top.
We finally have a clean slate financially, but need to get production and staffing in order.
I would like some sort of announcement regarding the following: - the progress of the three drill programs - confirmation that production is going as planned (without any 8 week shutdowns - that was unforgiveable) - a statement regarding 24/7 mining if this is going ahead - a statement regarding mill expansion (surely the way forward is close to being finalised) - a 6-12 month forward looking statement of where production will come from. No 500k statements, just simple facts that show they have a plan.
Ramble done.
FML Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)