It is weird if MUS suffering a big lose on rubies last year with...

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jwoo111

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01/08/18

12:58

Post #: 34668884
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Originally posted by pe981 ↑

Yes exactly. It does not explain at all where the shortfall from expected expenses is coming from. We were previously advised that the Arena tranche 2 was amended with part 2a drawn as shown in June quarter. The amended Tranche (2B) was to be drawn after 25/6 so presume that has been drawn in July. That amount was for $1,805 so coupled with cash on hand at 30/6 totals 2,638k and still not enough to cover forecast expenses of $2,819. The amended tranche advice stated that further tranches were unchanged and to be drawn min 3 to 4 months after prev drawing. (Not sure how you can have minimum 3 or 4 months, but anyway)
It was unclear whether that time frame started after tranche 2a or 2b. We can only presume it started after 2a in which case tranche 3 may be drawn sometime in August or September which (we can only presume) will cover the shortfall.
Hard to fathom how they can forecast a large shortfall without any sort of comment how it will be covered!!

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It is weird if MUS suffering a big lose on rubies last year with only $800k left in the pocket before July what give them a confidence to funds $2.8m for Caula project in Q3? if a third party valuation plus a project presentation maybe more marketing programs could bring more fresh money on board.
What would you do if you are MUS managment?

MUS Price at posting: 1.7¢ Sentiment: Hold Disclosure: Held
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It is weird if MUS suffering a big lose on rubies last year with...

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