GJ; I think you need to take a long hard look at the financials...

GJ; I think you need to take a long hard look at the financials of 30 June 2015. Inventory is not cash. The only ‘use it as cash’ items on the balance sheet (ie pay the bills) are the actual cash and the bullion held. All else relies on the going concern of the operation to convert it into cash or offset it against future revenues.

Check with your accountant if you don’t believe me. Now do your calculations with the amount of current liabilities (creditors that could cause the company into VA). The figure as of 30 June was $8.7m and I can’t imagine it being much different 3 months later. Subtract that (or similar amount) and you have something closer to the ‘free float’ the company is working with.

Do you think this is a comfortable amount to be working with when by admission you don’t have a feasibility on future plans and the east wall is still giving you problems…. It’s a guess but a reasonable one given the presentation clues.