Dear Wasim 22, You need to be factual in your posts. As stated above, do your research. The "proposed" joint venture with SNR has been deferred. If you read the latest financial report from AQC you will note the following facts. The financial report dated march 2019 states the following regarding the "proposed joint venture". "At the date of this report,the parties are negotiating an extension to the agreement. The agreement involves SNR paying AQC 20 million dollars to acquire a 50% share in the project. Should the joint venture occur 10 million of this will go to paying out the loan to the previous owners Anglo American, which is 10 million dollars. ie AQC still owe 10 million dollars on the purchase. The following facts are also contained in the financial report. AQC have cash reserves of only 698,000 dollars . For the previous 6 months they made another loss of 7.9 million dollars. they have never made a profit and never mined anything. The independent auditors, Hall Chadwick, state " the group's current liabilities exceed its current assets by 11.7 million dollars." " A material uncertainty exists that may cast significant doubt over the group's (AQC) ability to continue as a going concern." SNR are quite wisely holding back from committing their 20 million dollars until the decision is made by the Independent Planning Commission. I attended a public meeting held in Muswellbrook which was chaired by the I.P.C. approximately 47 people addressed the I.P.C. The meeting went for 7 hours. Only four of those speakers were in favour of the mine.
AQC Price at posting:
55.0¢ Sentiment: Sell Disclosure: Not Held
