well worded, just backs up my thoughts, embezzling, non...

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01/11/23

22:51

Post #: 70677904
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Originally posted by MMMJ: ↑

Company announces “high grade surface material” announcement prior to quarterly ???? The qtrly then shows $64k left in the bank (excluding the loans available).

When you look at last qtr report v this one – not much real progress but some decent money spent in the 3 months

Interestingly in regard to money spent , $106k of shareholder funds went to an entity which Kate is a director ?

“The amount of payments to related parties and their associates disclosed in section 6.1 of Appendix 5B accompanying this report was approximately $130,000. This consisted of payments to Directors totalling $24,000 for directors’ fees, superannuation and company secretarial fees,as well as payments to Target Exploration Pty Ltd (an entity of which Ms KateStoney is a director) of approximately $106,000 for exploration management,technical consulting services, and corporate and administrative services.”

On the financials just checked ASIC definition of insolvency which is “Insolvency is when a company or person can't pay debts when theyare due” HOR’S leader Kate , being a qualified accountant i assume is well aware of this , so assume that the S1.6m borrowings reported as currentliabilities in the half year accounts must be on terms which are very generous ?

Cap raise incoming ? further shareholder dilution ?

Many questions for this company and its leader ? i will continue to watch , seems to have potential but question if this can be realised with current leadership.

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well worded, just backs up my thoughts, embezzling, non communicative, debt building. building big problems in the background.

HOR Price at posting: 0.9¢ Sentiment: None Disclosure: Not Held
4 Upvote

0 Great analysis

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