Reads to me as if the $6m in assets is locked up in high end technical exploration gear that has dollar value and could be used on another project. I haven't seen this written and would need to find further documentation... but it reads like some sort of specialised electronics and computer system. It's worth something to someone, but, it's not liquid cash. The sort of gear you could go and buy new from China without knowing if it's any good, but, this gear being held is known to work and has the evidence to prove its working status... that's how it reads to me.
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The company still has drills spinning, so I wouldn't call it a total shitco yet.
PLC Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
