NCZ 0.00% $1.10 new century resources limited

Ann: December 2019 Quarter Operational Results, page-38

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  1. 352 Posts.
    lightbulb Created with Sketch. 69
    Not nuts, smart.

    Do you know what the opposite of debtors are? Im sure you do...I know NCZ only ever includes the receivables, plus cash etc in their "cash" balance but they have ballooning payables, mine restoration, community and debt obligations. You guys mention the cash balance like its NCZ cash, FYI its not theirs, its Varde's and they will want it back at some stage.

    30 June 2019 Trade & Payables balance
    Trade payables 29,773,346
    Amounts payable to director related party 441,721
    Other payables and accrued expenses 15,960,312
    Total $46,175,379
    This is just trade & payables, the small stuff (not the $200m mine restoration obligation or the $100m in debt owed to Varde) ...why dont you deduct this from your "cash" balance or do you exclude because it doesnt fit the narrative? NCZ disclosures 1.01

    Pushing out their payables is an easy way to make the cash flow situation look better than reality. I have no idea on the payables balance as at 31 December but If i were a betting man, i would say it will be materially higher than 30 June 2019.

    *** I wonder what this is "amounts payable to director related party $441,721"

    Being a NCZ director is almost as lucrative as being a NCZ short seller.

    Stay long boys
 
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