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specgoldbug

13,113 Posts.

393

06/09/16

22:37

Post #: 18976308
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Originally posted by horghe ↑

I have had a read through the prelim reports and looks grim as far as I can see. 170m net debt, normalised EBITDA of 38, so over 4x gearing. Negative operating cash flow of $20million. Flagged will be in breach of covenants. The bit of outlook they provided was also pessimistic.

Where will the cash come from? I like to look at the cssh flow statement first when companies are trading low and highly leveraged.

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I just see two old mates making a big play. Reminds me very much of a big play my grandfather made. As stated...very high risk....
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