All this cash in the DRC theoretically in the control of the company from the way that is written. If
I had shares in this I would be asking the auditor to explain this at the AGM, the one that has not happened.
Also there is no half yearly 2020/21 report yet, so automatic delisting scheduled for next business day, which is Tuesday here.
Company has written off Iron Ore asset, so company has a deficit of $872K (p19), as of 30/6/19. Since then another $430k of 'loans' as listed on p49, have been accrued, so total loans of over $1.4M at present.
The question I had in the other thread for a couple of posters/holders is why would anyone put a new project into this unlisted company with debt instead of a new clean slate company without debt??
The business case clearly indicates to put this in VA and start a new company for any new project, even if the same directors/players were involved.
WFE Price at posting:
2.4¢ Sentiment: Sell Disclosure: Not Held
