Zeeshan,
You may have noted that I am a shareholder and I have no intention of going anywhere. However, this is an ideas exchange and not just a forum for cheerleading management.
In relation to cash on hand you do not seem to realise that the cash on hand is $17.5m at the end of March. While there is cash coming in in early April there will also be outgoings. If a company is going to talk about cash coming in they also need to talk about cash going out. They also need to talk about movements in working capital. Also a new production drill rig was brought on in early April which would have cost a fair bit.
Also, during the conference call Mel said that Far West would be brought on stream in 2019. He did not say in 6 to 9 months or on 1st Jan 2019. Mel left it open at sometime in 2019. Who knows what that means.
A stock does not go from 41c to 26c without some issues. That is what we need to explore.
DYOR
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- Ann: Quarterly Activities and Cash Flow at 31 March 2018
Ann: Quarterly Activities and Cash Flow at 31 March 2018, page-98
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