They made a progress forward, I will give it that. Nevertheless, I hope the management stop overpromising and actually deliver something. While their projected 10,000-12,000 cubit metres of waste material generating approximately $300,000 per month (12000*$24) and $900,000 per qtr seems reasonable at a glance, but would this make cash flow positive? Last qtr, staff cost - 141k, admin cost 171k, PPE 365k plus interest payment ….. What if we are paid $12 per cubic metre then? $240,000 per month (12000*$12) $720,000 per qtr.
720k - all costs mentioned above gives a very modest profit per qtr if we sell 12000 cubic metres (best scenario). How are we gonna pay off the debts going forward? Shouldn’t staff and admins get paid in shares instead? (300K per qtr for staff while sale is 720K lmao)
If management is reading this, you could’ve issued shares at 0.004c. Sell Eldorado tenement to generate cash rather than going after investors and issue more shares and screw shareholders.
I think they need to change the ticker to FFS not FHS. Sad.
FHS Price at posting:
0.4¢ Sentiment: None Disclosure: Held
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