Pretty standard stuff there GH. I don't think anyone is under...

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Goldbullsach

1,550 Posts.

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14/09/18

09:31

Post #: 35595197
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Originally posted by Green Hornet ↑

Am very pleased to see that no one is overly concerned about the statement below.
Seems that the gold production may not be the saviour many have thought

'Going Concern
The Group incurred a net loss for the six-month period ended 30 June 2018 of $1,805,608 (2017: profit of
$36,511) and a net cash outflow from operating and investing activities of $9,427,815 (2017: $5,168,227). As
at 30 June 2018, the Group had cash and cash equivalents of $4,908,950 (December 2017: $12,518,102) and
a working capital surplus of $6,840,152 (December 2017: $11,546,975).
Based on the Group’s cash flow forecast, the Group will require additional funding in the next 12 months to
enable the Group to continue its normal business activities and to ensure the realisation of assets and
extinguishment of liabilities as and when they fall due, including progression of its exploration and project
development activities and meeting its annual minimum tenement expenditure commitment.
As a result of the above, there is a material uncertainty that may cast significant doubt on the Group’s ability
to continue as a going concern and, therefore, that the Group may be unable to realise its assets and discharge its liabilities in the normal course of business.'

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Pretty standard stuff there GH. I don't think anyone is under the illusion that BGS can make it another 12 months without additional funding of some kind.
All going to plan the plant will be half built by then so read the above along with the statement re financial options available which gives a more balanced view IMO.

1.3m from gold sales if I'm reading that right... certainly not hurting in the interim

BGS Price at posting: 31.0¢ Sentiment: Hold Disclosure: Held
21 Upvote

0 Great analysis

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Pretty standard stuff there GH. I don't think anyone is under...

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