Thanks but the numbers don’t stack up, what about the US$52M...

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huninni

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17/01/19

22:03

Post #: 37149715
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Originally posted by niu ↑

Originally posted by huninni
This is 110% correct - beware when you notice companies starting to do things like this!

Also does anyone know why the cash balance has decreased so significantly, I thought they had like US$380M cash in the bank as of fairly recently?
At annual report time they had 316.7m USD cash (+ 52m USD receivables + 6.5m USD inventory for total current assets of 375m USD)

This report they are saying "available cash" (not necessarily same as total cash) of 284m USD. They are well in to spending money on the expansion - IIRC they had allowed to spend up to 40 m USD prior to FID. Anyway they explain the movements in the report.

As at 31 December 2018, Orocobre corporate had available cash of US$284 million. The US$24.7 million cash reduction from theprior quarter was the result of a US$21 million shareholders loan made to the SDJ joint venture to fund Olaroz expansionactivities, US$3 million in corporate costs, US$1.5 million in Cauchari JV expenditure, US$0.6 million funding to Borax, US$0.5million strategic property purchases and US$0.1 million of forex losses.This expenditure was partially offset by US$1.6 million interest income and US$0.4 million raised from issuance of 123,343shares to TTC under the terms of the Share Subscription Agreement dated 16 January 2018 allowing TTC to maintain their 15%shareholding.

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Thanks but the numbers don’t stack up, what about the US$52M receivables where has that gone?

Something doesn’t sound right to me here...

ORE Price at posting: $3.25 Sentiment: None Disclosure: Not Held
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0 Great analysis

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Thanks but the numbers don’t stack up, what about the US$52M...

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