"in the directors’ opinion there are reasonable grounds to believe that the company will be able to pay its debts as
and when they become due and payable."
"In preparing the financial report, the directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so."
"The Directors have prepared a cashflow forecast which indicates that the Company needs to raise additional capital to meet all commitments and workings capital requirements for the period 12 months from the date of signing this report. The ability of the Company to continue as a going concern is dependent on:
- The ability of the Company to raise capital from equity markets as required; and
- Containing cash outflows based on working capital requirements."
I deff think its a long shot, just hanging on by a thread atm.
I still remain wishful but dont expect results at this stage.
to be honest, the director taking home 360k + 200k per year in other expenses is a bit of a slap in the face to everyone keeping them going.
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classic minerals ltd
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