Ann: Recapitalisation package, page-444

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johnybg

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29/09/22

08:21

Post #: 63934019
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Originally posted by Handy777: ↑

We either die by a thousand cuts by administrators or we die by dilution followed by negative cash flow from high AISC and low gold price.

Personally, I'll take the first option so directors don't get a cent more than they've already robbed from us.

Management have proven they do not give a single sh*t about retail.

I can't stress that enough. They think we are plebs.

Can you please lay out what we owe and what we have and why we can't just sell Morilla, switch the lights off and wait two years?

____________________________________

$36M in cash and equivalents on 31/08/22

Proposed raising of $126M

$86M being used on mine development and exploration. Let's forget about that for now because we shouldn't be bothering with it.

That means we need $40M for other things. Assume that's all debt even though some of it is for future working capital.

$28M (US dollars) owed to MEIM (god knows how it got this high) = $42M owed to MEIM.

So $82M owed and we have $36M.

So we owe $46M worst case.

Here's hoping someone would take it off our hands for that.

It my decades in the stockmarket, I've never seen an angrier group of shareholders or a more pathetic management team. Seriously...

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Agree. If they dont know by now. where the gold is by now, there is f* all.
Its time to mine or fold!

With any luck we saw the bottom in gold ,ast night.

Did we trade insolvent, because the day we paid LLL $20m. We owed $26m to contractors?

Certainly the contractors would of been pissed off. I know i would be if i was the contractor.

How much of the contractors equipment is still stuck on site due to mine closure?

If Zero. Then they knew before that day!
So why not us??????????????????????????????????????????????????

FFX Price at posting: 20.0¢ Sentiment: Sell Disclosure: Held
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