Worth reading notes 14 and 15 prior to reading 1(f). Even if...

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elzephyrus

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08/03/23

20:25

Post #: 66665856
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Originally posted by gemboy: ↑

A little clearer info from Note 1f to the December accounts

f. Going Concern Basis of Accounting The Group has incurred a net loss of $5,004,033 for the half year ended 31 December 2022, had net cash outflows from operating and investing activities for the period and had a deficiency of current assets to current liabilities as at 31 December 2022.

The Company has assessed its ability to continue as a going concern, considering all currently available information, for a period of at least 12 months from the date of issue of this interim financial report.

This assessment included preparation of cash flow forecasts for the next 12 months which indicate that additional funding or renegotiation of debt payment profiles will be required to meet its obligations as they fall due.

My bolding added. Looks lik all the earlier reservations regarding debt were, and currently remain 100% correct.

Also from the December accounts the current liability portion of the debt (payable within 12 months) is disclosed at $55 mill.

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Worth reading notes 14 and 15 prior to reading 1(f). Even if they restructure a portion of the loan, how are they going to bring Blue Spec online? And what is the cost to start stage 2 (Klondyke)? Good to know they have offers on the table for partial debt restructure, but even then it will be tight. I still think a cap raise is a 50/50 possibility.

CAI Price at posting: 23.0¢ Sentiment: None Disclosure: Not Held
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Worth reading notes 14 and 15 prior to reading 1(f). Even if...

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