Okay, so questions were raised recently here that we should have heard about the first gold shipment by now. This reports clears that up, they deferred it so they could trigger the second instalment of the SilverStream funding, $1.4m. Well played. The other instalments of $1m and $1m should soon follow, plenty of time to spare to pay back the rest of the APG debt with plenty of cash left over.
I'm not sure about their quoted convertible debt figure though, of $1.57m after June 30th. The conversions announced on 1st July, 3rd July and 7th July don't seemed to be counted, I can't add it up any other way. Either way though, the convertible debt is dropping fast, it looks like it'll all be converted well before Sept 30th. Maybe expecting a re-rating from good news so getting it out of the way early?
Otherwise it's a nice summary of announcements we've already seen over the quarter. Looking very good.
TTM Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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