The only thing keeping this afloat at the moment is its LEL holdings. GII have all the power here. Whats the bet they took a nice little marketing margin on the sale of the shipment while SRK shareholders wore all the losses. We actually would have been better off NOT exporting. Some interesting points in the quarterly:
On what basis can will shareholders want to participate in a cap raising when its a loss making exercise. My view is that the will have to look to sell down some of their LEL holdings.
Apurimac now only gets a minor mention in the report. What a disaster this has been.
Whats the bet remaining cash is simply used to pay management and director salaries!
This is a terribly run company.
The only thing keeping this afloat at the moment is its LEL...
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