Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-10

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CliffJ

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31/07/24

17:15

Post #: 75010459
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Originally posted by mondyinvest: ↑

Like all of the companies with these dreadful ATM facilities, HIO include the $7.49M of the facility as available funding even though to draw down on this would tank the share price even further (to get the full $7.49M even at the current share price they'd have to issue 356.7M new shares, i.e. dilution of 35%). Even though ASX quarterly reporting standards require them to include it, it's a nonsense to pretend they could access all that cash.

Without that figure, they really only have 2 quarters cash left (and that after doing a raise during the June quarter)
Total outflows for the June quarter: ($1,652k)
Total cash remaining: $3,299k
Quarters of funding: 2.0

If you take off the $250,000 they've just had to pay to settle the Pure Metals claim, they're down to 1.8 quarters. How long do companies like this keep raising cash from shareholders to pay their salaries when even the low-cost iron ore majors like FMG are on the nose? Time to wind it up, unfortunately.

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Can you explain how section 4 and 8 of the cash flows add up? They're clearly wrong and make no sense.

They dont add. Even the assessment of future cash flow is incorrect.

A pretty average looking document and I'm surprised the ASX havent asked them to resubmit this...
HIO Price at posting: 2.1¢ Sentiment: None Disclosure: Not Held
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