There are two sides to the debt funding from my perspective: management initially gave an estimate of how long it would take to sign off of 90 days with a 33% contingency, giving an indication that matters were very embryonic. The fact that they haven't yet been completed is just a fact of life and not a cause for concern. The second side is the fact that despite the overrun, the company don't actually need funds to continue to progress, which to me is also a positive. The burn rate is improving....that's gotta be good.
so while we aren't formalising our debt as fast as anticipated, generating CF is positive and to me shows management aren't desperate.
AKK Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
