If you are referring to the last General Meeting then the good news is that no Director said that things were ‘pretty grim’.
What one said, principally in relation to the temporary cash shortfall caused by the delayed receipt of the Vanmag sale proceeds, was that it created a situation that ‘was not pretty’ in seeking alternatives to settle the balance of the Mashala purchase on time.
You will no doubt be further reassured to hear that since that meeting the Company have announced that they obtained an extension to the Mashala settlement timetable, that four of the ten million dollars due have been received from the Vanmag purchasers and that the remaining balance is to be paid by the end of the month.
I’d recommend that you read all the Company’s announcements since the last meeting; you will see that there have been a number of positive initiatives pointing towards a prosperous outlook, interesting reading when balanced against the negative non-shareholder posts which focus exclusively on the past.
CCC Price at posting:
5.7¢ Sentiment: Buy Disclosure: Held
