re: Ann: New Zinc-Silver-Gold Mineralisation ... ok page 27 of the latest financial report stated
"material uncertainty regarding going concern"
I know this is a standard paragraph in auditors reports and covers 100's of penny stocks but this is a little worrying
"the groups current liabilities exceed its current assets by $27. 9 million, and while the group had net assets of $14.6 million, the net assets attributable to the equity holders of the company were in deficit of $0.4 million."
"The group has bank loans of $15.5 million of which $10.5 million remain outstanding, and $29 million in convertible notes repayable in 2014, the settlement of which is expected to require further equity raising or realisation of exploration and evaluation assets."
All in all a very bleak picture IMO
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