HRZ 3.13% 3.3¢ horizon minerals limited

Cash/Investments $7.8m !!!!!

  1. 897 Posts.
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    Latest announcement following settlement of the dispute with Resource Mining P/L
    advises that cash @ bank plus "investments"(presumably IRC's 7.2m shares in RWD)
    is stated to be $7.8m.

    IMO this announcement is purposely vague. I would have expected the figure should have
    been something ~ $9m-$10m depending on how much $$$ was being withheld in the
    JV bank a/c with Resource Mining P/L pending resolution of the dispute.
    eg

    Cash @ bank @ 30 Sept.'18 $7,433,000
    Add Lehmann's monies 2,500,000
    ..................
    $9,933,000

    Deduct Dec. Qtr est. o/goings (1,359,000)
    .....................
    sub total $8,574,000
    Add RWD Invest.7.2m shares
    at cmv 10c 720,000 *****
    .....................
    sub total $9,294,000

    Add release of IRC's share of
    JV monies-Resource Mining P/L ????
    ......................
    Now stated to be only $7,800,000 ??????

    *****RWD Invest. dropped
    considerably -prev.16c per share
    =$1m before taking up RWD
    rights issue-~ $200k.

    Comment-I'm perplexed !!!!
 
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