$70m of cash burnt at the nifty furnace last financial year, a further $24m burn in Q3, 2019. The cash balance sits at $50m at Sept 30 with $33m of debt. They cannot go back to the market and raise more equity IMO this will destroy more value. If nifty burns through another $20m this quarter as it’s looking then cash is getting into a tight position. They can’t keep shovelling cash into the furnace. You seem to think they’ve only had a couple of months to turn this around, it’s been a number of years. Definition of insanity - doing the same thing over and over expecting a different result. Shut it down.
MLX Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
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