Net assets down to $97 million. That leaves asset backing at just over 20c per share by my reckoning.
Is it just me, or does it seem like a little too much cash has been burnt over the last quarter considering the relatively negligible progress?
My take is that despite being oversold, I don't think this report is going to be the rocket under the share price we had hoped for. I'm out until the market has digested this.
Ann: Quarterly Activities and Cashflow Report , page-2
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