So if they are owed money for that 4.1t of concentrate st 60% that equals 2.46 t of tin,let's use 18000 as a price so 18000 x 2.46 = 44280 usd.
Dont understand how it takes so long to be paid on a shipment sent on 29 April, and thought most offtakes are paid once shipped, but seeing there is no mention of it I will assume its outstanding and soon to materialize. That cash could come in handy to keep the doors open towards September. If they dont start making sales soon, they may be in danger of trading insolvent.
Its alarming that they dont have sufficient funds to do anything at Taronga even after raising capital for that purpose. So I guess it is now reliant on tin sales as I would be surprised if they could successfully ask for more capital from shareholders, with such little bang for our bucks from previous raise.
The cashflow report seems to be missing information relating to next quarter. From their figures it looks like Taronga on hold and Granville at a crawl at best. I am having trouble reconciling there expected developments with their expected expenses, something just doesnt add up imo.
Can anyone give a reasonable explanation of what I can expect to be done next quarter with the 350k they say they are spending? Or is this the figure they put there to make it look like they have enough money in the bank and just hope for a tin sale windfall?
Christopher
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