How do you get burn through $67 million in 2 months? Whilst I acknowledge the benefit of hindsight, the decision to suspend operations has ultimately destroyed this company. Massive massive cash burn, a share price stuck at an all time low when ore slipped into the US$40 region and as a result an appallingly low CR raising that won't even touch the companies debt problem. If anything after all the costs, just get us back to cash levels of 6 months ago and a massively diluted company. Shame they didnt just play it out for another few weeks. Cash flow would have continued, share price would have recovered.
And whilst I like DF, $670k is an insult to LT shareholders. Should be on half that and Brinsden kicked out of the company altogether. That and whoever signed up for the flashy premises they are paying top dollar for like they are Top 30 company.
I had high hopes a month ago. Am appalled now. Feel like they are just paying themselves big wages from the CR and not much else.
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