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Ann: New Yandan Geology Model Defines Compelling Targets, page-27

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cgl

357 Posts.

43

28/03/23

17:46

Post #: 67004613
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Originally posted by boy1: ↑

No CR for me, i think just an unhappy shareholder...

We have probably around $3.75m at end of quarter, excluding $1m cash from Malmsbury, $200k from C29 stock, $1.6m stock Novo.

My biggest frustration is not having White Dam sold, even if its for $2m-$3m, need to get it off our books, and need to monetise Mt Morgan... would've thought we could get minimum $2-3m for that as well. Plus sell Cloncurry JV.

Adding all these pieces above can make a huge difference, we need White Dam, Mt Morgan and Cloncurry all monetised in the next quarter, not drawn out so working capital eats any sale proceeds leaving little room for the market to value cash and investments...

Hit the market with $5m cash from asset sales all in next quarter and then we are close to $10m in cash and investments.... We need to pay back 7.9m in Con notes as $2.1m is prepaid interest, so do a CR when we get the above done, and we are ready to drill again!

Thats what i would try do anyways.

Expand

You need to include the $1m from the 95 tonnes of copper GBZ sold late last year, plus hopefully WD cash flow positive this quarter. If WD does not make money this quarter, burn it.

For Mt Morgan with Smartset I think GBZ was getting $11m in script, so more than $3m if we sell. Maybe JV in AU?

GBZ Price at posting: 2.4¢ Sentiment: None Disclosure: Not Held
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