Ann: Mt Morgans Operation & Corporate Update, page-72

The company had significant contractual liquidity obligations in the 12 months from June 2018 as per this table from their annual report (below).

According to the table they had little over $106 million in obligations due within 12 months of June 30 2018. I assume they have met their obligations to the end of March (but this is just an assumption) which would leave them with about $36 million in contractual obligations for the June quarter of which I believe from the March quarterly there are about $20 million in debt repayments and interest costs with forecast outgoings of $89 million (including debt repayments) for the quarter (which included about $18.6 million of non-sustaining capital expenditures in the form of developement).

37,000ozs for the June quarter at a margin of (say $150/oz) is an operating cash flow of about $5.5 million.

Given their liquidity at the end of March and assuming they actually met their contractual obligations in the March quarter it looks like the company has enough cover to keep meeting its obligations to me, but do your own research please.

Sounds like the wolves are at the gate though and there is a reasonable chance we will see a change of control event which might include a capital injection.

NST, RRL or EVN maybe?? The price pounding the company got today will work heavily in the favour of the wolves. It looks to me like existing shareholders are being shafted with little chance of recovering the losses suffered in the last 3 months. If I wasn't already exposed I would be buying these lows. Esh