More board unrest and announcing it right when they are trying to top up the bank account with further funding? Must have been an unexpected exit.
With so many board changes, people coming and going - what is the issue really?
From the last quarterly
As at 30 June 2023 HVY had 0.6 quarters cash remaining in the bank.
We are now nearly 2/3 the way through the quarter. Based on what the company has told the market in the quarterly - there can't be any cash left in the bank.
To run the liquidity of the company to this position is completely incompetent by management. What sort of negotiating position does this leave the company in to negotiate terms of the royalty arrangement?
The company said the PFS was due to commence in August 2023. I find that hard to believe they could even consider starting it given right now they would be looking to find the money to pay board wages and the next power bill.
More board unrest and announcing it right when they are trying...
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