These guys are toast if they even trade again....which I doubt

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ACEMINER

2,192 Posts.

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23/01/24

17:25

Post #: 72027243
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Originally posted by ThinkinLoudly: ↑

what a trough!

per the Prospectus, after all the shenanigans and handouts and bonuses and chrissy prezzies, ELE was supposed to have A$17.539m available to spend in the period 1 July 2023 to presumably yesterday. In today's announcement they are crying broke ... Are they truly saying that it has cost A$13.539m (excluding the A$5m capital raise) to wheelbarrow about 8kt to Darwin in the last 6 months??

"... In the event that railservices do not recommence within the next two weeks and the SPP does not raisethe maximum A$5.0 million, Elmore will be placed in a precarious financial position,and would be required to explore alternative sources of funding to address this issue...."

interesting:
capital program does not reference gold and cobalt separation plant ... in the absence of this separation, ELE is not worth a zot
despite the successfully completed 'multi million dollar' capital program, they now decide they need a wash tank to deal with a known sulphur problem. and to boot the bathtub needs to be made in China..

why on earth would you publish this dribble? I wonder how much cash was actually injected? I wonder how much Oz Professionals has managed to extract directly and indirectly? what a great big pile of trash!!

relist so that the market can express its view of managements stellar performance. This announcement truly deserves a "are you kidding me" note from the ASX.

ASX casino 101!

have a great day

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These guys are toast if they even trade again....which I doubt
ELE Price at posting: 0.5¢ Sentiment: Sell Disclosure: Not Held
3 Upvote

0 Great analysis

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