Never know what to think of this company. Announcements contradict each other. Latest announcement looks positive on cash flow until you look at its Dec Qtr released at the end of January. That commentary said it had $3million cash at the end of January. Mar Qtr says cash is now $2.6million. Is it losing $200k cash per month?
Production and admin costs continue be a concern as this will further erode the cash on hand.
One wonders about the competence of the company's leadership.
A minor point - the report was released unsigned.
More importantly, it is 3 months since Alcoa announced the closure of its recycling operation and yesterday's announcement says MHM is undertaking a review which it might release to its shareholders towards the end of the year.
I think all shareholders would have expected something concrete given the critical situation the company is in.
MHM Price at posting:
1.9¢ Sentiment: None Disclosure: Held
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