I have no doubt that they will be fiscally in front from last quarter due to the delay in paying owed debt and delayed hedging deliveries.
For those that are predicting a + $20m cash position at the end of the quarter due to their own assumed calculations, the one thing you don’t factor is the the debtor position.
This quarter they will clear debt because of the above but the cash position will be tenuous.
Contractors will walk unless they pay within terms. Probably their last chance.
This quarter they have managed to keep contractors on site.
Its a positive for now but their true costs are way too high and grade too low.
Full year financials will be ugly when released.
Kicking the can down the road keeps them alive, but beware the can that bites.
Best of luck to you all.
I have no doubt that they will be fiscally in front from last...
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