EVN 1.45% $3.50 evolution mining limited

How this is a 6 Billion dollar company is beyond me.The negative...

  1. 84 Posts.
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    How this is a 6 Billion dollar company is beyond me.

    The negative cash flow which is now persisting is a massive long term concern. Yes, management can play the spin that it's OK by showing how much debt we can draw (page 7) but it's hardly a solution.

    We have debt well over 1 Billion, and growing. Half yearly should be interesting to see what damage is being done to the balance sheet.
    Interest expense has also jumped to a concerning 24.4M for the quarter.

    Red Lake is a disaster they should just walk away from. Evolution won't even get any of their original investment back, let alone a return on investment. Management including Jake Klein have failed to use shareholder equity properly. It's the job of directors to plan for and execute projects that get a return on investment. With Red Lake they should just accept that they failed and walk away. Every quarter Evolution just keeps plowing precious money into the mine again and again. How long can this stupidity go on for? Till we max out our debt?
    Pressure should be placed on management to walk away from this.

    To the comment about Management sounding impressive. That's their craft. As a public director their job is to look good, and sell the story with all the positive angles they can find.



 
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