PSC

4.44%

9.4¢ prospect resources limited

Understood, but the cash burn rate is alarming and shows signage...

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NormanW

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01/10/19

08:55

Post #: 40653581
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Originally posted by TreMit ↑

I hope the sentiment in the lithium sector turns soon and PSC finalize the funding.
Here is a part of a promising statement from the Managing Director, Sam Hosack:

... During the past 12 months Prospect has pursued an extensive fund-raising exercise and engaged in a multitude of discussions with potential funders of the Project. Whilst this process has taken longer than initially envisaged, we are delighted to report that our efforts have yielded a promising shortlist of reputable Development Finance Institutions (“DFI” that have rigorously evaluated Arcadia and expressed their keen interest to participate in the funding of the Project Costs associated with the development of Arcadia. We have engaged with these DFIs not just as sources of funding, but with a view of securing credible long-term strategic partners and supporters of our corporate mission underpinned by growth and development.

Accordingly the Company has progressed these discussions to a point where we believe that a syndicate of these DFIs will commit to providing sufficient funds via a combination of senior debt facilities and equity subscriptions, and the management team continues to work assiduously to conclude these negotiations and enter into binding agreements, which will soon allow Prospect to announce further relevant details to the market.

This is my personal opinion only and it is not financial advice. Do your own research.

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Understood, but the cash burn rate is alarming and shows signage of hemorrhagic proportions.
Up to date the time frames have been blown out of proportion. Until it is announced as a fact it remains a “bla bla bla” lots of disappointed shareholders around. They’ve lost even interest in expressing their negative sentiments. How is the cash burn rate justified?

PSC Price at posting: 12.5¢ Sentiment: Hold Disclosure: Held
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Last 9.4¢		Change 0.004(4.44%)		Mkt cap ! $52.19M

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Understood, but the cash burn rate is alarming and shows signage...

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