Mis, not so long ago RED looked like crap, PNR may have its day...

Mis, not so long ago RED looked like crap, PNR may have its day yet (though.... upon reading through the June Q and the recent capital raising presentation, I.... have even more serious doubts in the near term). Plus, I simply enjoy researching stocks and... well PNR is listed

PNR had $42.8m as of June 30, yet... in the capital raising presentation, they were sitting on just $26.4, a drop of $16.4m!

No wonder they had to raise capital, as otherwise they were probably close to breaching their debt covenants. Then we know they still owe $$ to creditors, but... not clear how much. The raising adds perhaps $20m to their cash position, but.... the raising was the end of August... how much did they lose in August?? Another $16m? If so, they might already be down to $35m. I am ignoring bullion, as it's not actually cash to be used for anything.

It is impossible to know what the share price will do, but... with the U/G still not being accessed (as I read it... maybe late in the quarter), that means more cash burn is occurring right now. PNR is cheap if it was actually producing at their FY24 guidance, but we all know it's not.

Good luck to all holders