Zaaro, The problem with companies being in administration is that the only ones seeing any form of Financials are the Administrators, The Administrator funder (IMC) as well as some of the top shareholders. IMC would no doubt have there loan secured by Camilya so they would be well and truly covered. From MCR reporting I have estimated cash flow from Camilya for the eighteen months (this is different to Profit which would include write down of assets and ammortisation)of $4M to $6M. I Don't believe there would be any tax on this. The cash flow would have covered administration costs as well as contribution to any carried debt.
This is all guess work as MCR have not reported costs of production, other than an average for all their mines. All indications are that Camilya is one of the lowest.
VRE Price at posting:
$2.60 Sentiment: Hold Disclosure: Held
