The last quarter SLR said they had $34.0m in cash and bullion and
no Bank Debt.
What does this imply to the average punter?
To me it indicates they have a pretty good cash backing and no real debt apart from general expenses.
However, what they didn't disclose is other debts which seem to amount to about $16 or $17m
In the fine print, they stated in the last Q that there is still $6m to pay out for closing the Murchison Mine and current disclosure of (I think) just under $2m for the Lakewood Facility. That's $8m what happened to the other $8m.
I believe that to state you have no bank debt is simply deceptive when you know there are significant other debts
I know it will not happen but I would like to see someone with deep pockets sue the directors, IMO directors are liable to be sued and cannot hide under the company protection if they do or omit to do something on purpose.
When will someone from SLR be accountable for a $1.3billion company reducing to a $100m
and the obvious trail of extremely questionable management decisions along the way
IMO this company will have to do a CR in the near future
$16 left in the kitty
$2m still to pay for closing Murchison
Other debts exist that haven't been disclosed?
Costs more to produce an oz than they are getting
Declared expenditure of $12m on drilling next year
doesn't leave much
- Forums
- ASX - By Stock
- Ann: September 2014 Quarterly Report
The last quarter SLR said they had $34.0m in cash and bullion...
-
-
- There are more pages in this discussion • 32 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)