When I went to Dakar for the mining conference and latter a field trip to the mine site.,Alex could not do enough for us.Set the engineer,to take us out to Konkoto where they were drilling at the time,than around to dota campsite for lunch,off to the dam and so on. I wanted to check out the plant as the number one importance.after long conversations with the Bassari employee engineer.He had a plan than as to how it was all going together.NOW THAT WAS 2016.;and Alex managed to get quite a substantial amount of my hard earned out of me.IT all looked good than ,just the guidance and timelines ,well let’s not go there.
Now ,unless you have cash to stick in,than you probably won’t get a return call.
I have asked for a few important questions,REGARDING FINANCE PAY BACK.
IN the dec qtr activity’s and finance statement clearly shows the cash burn.
ITEM 1.2D STAFF COSTS. $677,000
. 1.2E ADMINISTRATION. $195,000
. 1.5 INTEREST. $202,000
. 3.6REPAYMENTS(borrowings. $1,194,000
SO THE NEXT 2QTRS OR TO THE END OF JUNE !!!WE WILL NEED????FROM THE ABOVE FIGURES $4,512,000
I CAN NOT SEE A PROBLEM RAISING THAT MUCH CASH!
THE QUESTION REMAINS HOW MUCH CASH REQUIRED TOFINISH PLANT AND I hope the pay back time is longer than the advertised 30 JUNE 2020.
I am not an accountant ,,so if any out there as any interest,please tell me and if anyone knows the
payback arrangement please tell,because I really don’t think Alex does.
APART from that we excellent grades,shallow recovery,close to plant.just need a good chief to finish it off.
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