Quarterly activities report, March 20201. Does the entity expect...

Quarterly activities report, March 2020
1. Does the entity expect that it will continue to have the current level of net operating
cash flows for the time being and, if not, why not?
Answer: No. The Company has signed final agreement with CEZ Group regarding its
investment in Cinovec Project on 27 March 2020. CEZ has paid ~AUD 50 million into the
Czech subsidiary, Geomet to fund the Project. This will reduce the Company’s holding in
Geomet to 49%. On completion of the final agreement, the Company will cease to
consolidate Geomet’s results within the Company’s consolidated accounts. It also means
that European Metals will no longer fund Geomet expenses, thereby significantly reducing
costs. In addition, the Company has been appointed to provide management services to
Geomet and will be remunerated for doing so.
2. Has the entity taken any steps, or does it propose to take any steps, to raise further
cash to fund its operations and, if so, what are those steps and how likely does it
believe that they will be successful?
Answer: No. Not required at this juncture.
Let me repeat that:
the Company has been appointed to provide management services to
Geomet and will be remunerated for doing so.

Apparently you are new here. This is definitely not true? You are probably not reading the announcements or past announcements.