receiver?! That's if the bank has a perfect security and a default event remains unpurged.
And I cannot see it when the company is generating net cashflow being 4times USD5.3million =USD21million in calendar 2016 from its gas contracts in WA.
Here it is in black and white ( from Dec 2015 quarterly): Around 3 PJ currently remains to be delivered over the period to December 2016. This gas is largely contracted and provides substantial stable, long-term cash flow. Third party gas revenues were in line with expectations with minimal volumes being deferred during the quarter. Forecast third party gas revenues are expected to be around A$30 million (gross) per annum until the end of 2016, generating substantial cash flow.
This is the asset that should be readily liquifed/securitised/collateralised .
Incidentally if they stick to their 2015 programme we should see audited full year financials for 2015 on about Wednesday 2nd March ..next week.
so....what am I missing?
TAP Price at posting:
8.8¢ Sentiment: None Disclosure: Not Held
