Regarding the cash position mentioned earlier in this thread....

Regarding the cash position mentioned earlier in this thread.

Worth noting that 'gold awaiting settlement' (GaS) of US$6.5m is in addition to cash held.

On 31st December PoG was US$1,080/oz, so the GaS appears to have been c. 6,000 oz. At current price that would now be worth c. US$7.5m - although it may well have been sold during Jan or Feb.

The above becomes apparent when looking at the balance sheet. Working Capital has improved to US$42.9m (from US$32.4m on 3oth June). Current assets have risen US$9.2m and Current Liabilities have fallen by US$4.3m.

So although the top-level cash has not changed much, their underlying financial situation has shown a steady improvement. ie.

Working Capital: FY14 = US$15.9m, FY15 = US$32.4m, 1H15 = US$42.9m

CPDLC