PRX 0.00% 0.3¢ prodigy gold nl

It is obvious that some posters are not seeing that ABM's...

  1. 843 Posts.
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    It is obvious that some posters are not seeing that ABM's possible cash position is reaching a critical stage.
    Billy, with all due respects you have been drumming on about all these great deals there are just waiting for ABM to snap up. I would ask you whether the example you quoted this morning is the best you have found in all your research? Why bother quoting a "Deal" that delivers $2m and results in a 7 to 1 dilution?
    My real concern is that dumping the RI has taken away an avenue for a little under $8m when we need it the most. I am a long time shareholder who has lost a lot of money and frankly, I am now concerned the this show could easily go belly up and we all lose what we have left. Billy, how long have you been invested in ABM? What was your buy in price? There are investors here who are looking at trying to recover their outlays of 30-50 cents. Instead of conspiracies and who's up who and who's paying the rent, I would prefer to look at fundamental business operations
    My estimates for ABM's cash flows follow. I am disturbed by these estimates and would be more than pleased if someone could please pick holes in them. If they come to fruition and ABM don't get a cash injection well.....Remember, too that the longer it drags on, the more desperate it will become for ABM and then yes they might just jump at  a 7 to 1 dilution for a lousy $2m.
    My rant for the day
    GLTA
    PB



    Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7
    0 At 1 Jan, ABM reported it had $8.060m on hand in cash and equivalent gold.      
    1 ABM reported in the half yearly that it had estimated costs of $11.650m for the March Qtr.  
    2 By March we knew actual receipts for Jan and Feb. If we apportion costs over the    
    3 first three months on an even basis we get cash flows something like this -    
    4              
    5     $m        
    6 Jan-01 Cash Bal 8.060 1/2 Yearly Report      
    7 Jan Sales Rev 4.991 Est based on - 3,220 act oz @ ave $1,550poz  
    8 Jan Env Bond Paymt -2.750        
    9 Jan Operating Costs -3.883 ABM Est cost for Mar Qtr evenly distributed each mth
    10              
    11 Feb-01 Est Cash Bal 6.418        
    12 Feb Sales Rev 3.304 Est based on - 1,955 act oz @ ave $1,690poz  
    13 Feb Env Bond Paymt -1.000        
    14 Feb Operating Costs -3.883 ABM Est cost for Mar Qtr evenly distributed each mth
    15              
    16 Mar-01 Est Cash Bal 4.839        
    17 Mar Sales Rev 5.420 Est based on - 3,265 act oz @ ave $1,660poz  
    18 Mar Operating Costs -3.883 ABM Est cost for Mar Qtr evenly distributed each mth
    19              
    20 Apr-01 Est Cash Bal 6.376        
    21 Apr Sales Rev 3.200 Est based on - 2,000 act oz @ ave $1,600poz  
    22 Apr Operating Costs -3.000 Mining Stops mid-April, processing to end April  
    23 Apr Closure Costs -4.000 The BIG Unknown      
    24              
    25 May-01 Est Cash Bal 2.576        
    26              
 
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