If you look at the Year to Date column, Rincon was sold for $31M.
Their outgoings this quarter were: $5.7M to repay borrowings $1M to pay interest (YA global, i presume) $1.3M to pay Phil Thomas' outstanding BMW lease or something to that effect, plus the rent on their digs in Melbourne, some secretaries and tea and bikkies (admin) $1.2M from exploration
What's that...$11.3M
Incomings totalled $1.6M or thereabouts. $9.2 - 1.6 = $7.6M
They started the quarter with $9.5M, lost nett $7.9M, and were left with $1.7M.
It doesn't seem to all add up precisely, but its close enough, and I don't give a stuff anyway. Fact is they are most of the way trough to being knackered.
ADY Price at posting:
2.2¢ Sentiment: Sell Disclosure: Not Held
