It's no coincidence that the company started the process for a capital raising on the same day as they released the September quarter Cashflow and Activities reports.
They got through that quarter by the skin of their teeth with just over $1 million left to their name and the only reason they were able to do so was because of the ~$22 million they raised from ShanShan. Take that away and they resulted in a deficit of $21 million, the same as they are looking for this quarter.
If the company stops shipping, they cannot afford to cover their debt, but even if they don't stop shipping, if they don't stop rattling the tin, they will in all likelihood in my opinion end up in voluntary administration, so even if this raising is successful, I will expect another one next quarter as well, of which isn't that the timing when a loan repayment is required? - How much is that minimum repayment @GOTAM?
Ann: Altura Completes October Shipments of Lithium Concentrate, page-123
-
- There are more pages in this discussion • 39 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
