I don't understand why anyone is surprised by the figures in the quarterly?
We knew that the company wasn't flush with cash, thus why it went out and grabbed the Bergen facility in the first place. Once that horrible facility was terminated (which I still support), it was always going to be the position that we would need more cash in a relatively short period of time....big question is, do the BOD have a plan to get it without tapping shareholders....and we all live in hope it will come from the SKI route.
If anything, I thought the quarterly was good as it said we are only expecting a cash burn of 1.9mil this quarter, meaning if SKI don't come in there is still a window of time to raise cash or find alternative funding until the project finance is locked in.
Bergen was only obligated to provide another $4mil in any event (the third tranche for the final $4mil needed mutual agreement). So that was never going to keep us going for much longer.
In other words, it should be zero surprise that AUZ need more cash in the door in the first half of this year. I live in hope that one day soon we will be busting out the soju........but I hope for many things that don't eventuate!
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