Over 300 views and only 1 upvote is telling on quality of the management within this company.
So after a quick read. I sure there will be some devil in the detail when I have some time.
Total liabilities have blown out to $140 million ( yes it included provisions like holiday pay, which are still debts that have to be paid ) and are losing $4 million a month!!!
@gopherbroke said
"clearly you dont understand that much of the Trade Creditors, is paid for by the Trade Debtors - in other words, not by the company itself but by the customers of the company."Well I do and the rest of the the statement in itself is correct. It's also basic test for short term cash flow / solvency. But then you look at the facts, cash + trade receivable - trade payable, these guys are
$44,577,580 NEGATIVE. So who is paying $44+ million?????
This was back at December 31. With the plant shut down at the start start of the year, then running out of explosives delaying the striping and no record production updates for Saloro they must be pushing another $10 million in loss so far this year.
So try and tell me how they are not in desperate need of $10's of millions of more capital??????????
Interested in hearing what the newby shareholders think of how the company is going. Especially with the tungsten price not going to the moon.
(20min delay)