Entertainment Value Only... Black & White - The statutory...

Entertainment Value Only...

Black & White -
The statutory accounts report has little to be impressed about/fairly insignificant and was but the revelation of another annual loss and subtle impact on shareholders in the shape of 10 mill bucks and -2.1 cents per unit or thereabouts. All to be expected really & nothing learned- the cash position was same, the debt samish, revenue wowsers not, nothing stood out - was just a plain Jane & hardly worth the -10 million the paper was written on.

This years 4E statutory accounts & last years 4E preliminary report were very similar in nature with no LOM or direction etc focus, no real changes as in policy or anything bar the requirement to pay Ken Nillson the undisclosed fee for agreeing to manage the company in its new phase, I dont recall seeing that anywhere, also in the small print is the third party deals or fringe benefits statement regarding inclusion of vehicles, accommodation, airfares etc with no regulation apparent leaving the door wide open to exploitation and given the general nature of apparent irresponsibility, my vote suggests so.
(normal business practice I understand) for info purposes only.

Volume -
It appears obvious that the Troy enterprise is scraping by on the bones of its proverbial arse cheeks as it has been for the past 2 years+ & if it wasnt for the recent year of relatively reasonable POG then the fat lady would have already rolled in the mud, shaken the trees, made Investec the likely new owner, changed the company name to Stern Stooges & Co, re-employed the usual suspects in some capacity and gone about their business. Doesnt work that way they said.

Contrast -
The annual report is the one to wait for as it should provide greater understanding of where we at.
Inclusive by then will be varification or other as to whether the capacity is on board or other.
Specifically with Investec - debt repayment, and direction.
If the board/management can make it through to then at the end of next month then that may be a positive, maybe they are the real deal and will allow them the last straw with which they are balancing on.


Go the Gold Price