"Unrestricted cash on hand (i.e. cash not committed to a SBLC) at the end of the quarter was A$9.4m from a corporate perspective and A$7.4m from a group perspective (taking into account a A$2m Borax Argentina overdraft)."
$7.4m is not much...... at the last quarterly and update they anticipated nameplate to be hit in October, now they say they will only be at 30% or so of that by October. They also said that they expected to be cash flow positive Q2 next year, you have to start to wonder how these new delays impact those estimates, and whether additional capital and SBLCs are going to be needed.....
I think that is primarily why the stock is trading a fair way off from its NPV and will continue to do so until it's cleared up.
ORE Price at posting:
$1.63 Sentiment: None Disclosure: Not Held
