These financial statements are prepared on a going concern basis. The Group has incurred a net loss after tax of $2,236,315 (2013:$3,060,824) for the year ended 30 June 2014 with cash outflows of $2,930,719 (2013: inflows of $2,981,128). As at 30 June 2014, the Group had net current liabilities of $1,892,759 (2013: net assets of $3,352,761) including cash on hand of $333,986 (2013: $3,422,826).
So only $333,986 cash in the bank...but it'll all be ok because they are going to start hand mining underground and gravity separating gold on site. Sounds like a solid plan...
CGN Price at posting:
12.5¢ Sentiment: None Disclosure: Held
