IMO that $46m might include the $10m for FFX taking up the...

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jgbit62

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04/07/22

15:59

Post #: 62361441
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Originally posted by GARETH78: ↑

You have invested in a yet to be profitable Spec Gold Miner, if you had done your research.

Missed lower end guidance by 22% - Its a gold mine, carries far greater risk in this area than other commodities.

ECOWAS sanctions well telegraphed.

Inflation well telegraphed, impacting AUD / USD also.

Spend was net out flow around $46m if Leo loan paid back. That’s $3m more than in the last qtr appendix 5b.

The VAT / Royalty area is the one thing that could have been addressed.

I had raised here in a number of posts the COH and the historical net cash outflows numerous times, especially with some posters spruiking the $100m cash on hand line, based on the quarterlies. The current scenario was there based on info announced and general macro.

Unfortunately it seems that worse case scenario in all areas including POG has occurred.

Holders need to own their investment decisions IMO.

Don’t get me wrong I’m disappointed, but I doubt FFX is going to be the only company that has been caught out on the inflation / costs shit hitting the fan.

Certainly looks like MA was out of his depth. AC needs to carry the can here also, his reputation is seriously on the line. He may be Non Exec Chairman but he certainly needs to be hands on for the foreseeable future, if only to save his own investment.

IMO

DYOR

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IMO that $46m might include the $10m for FFX taking up the maximum in their LLL Entitlement Offer, which would be a "one off" cost and give a net out flow of $36m.

Also today's ann shows AC as Exec Chair.

FFX Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
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IMO that $46m might include the $10m for FFX taking up the...

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