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primrose

213 Posts.

25

02/09/17

22:40

Post #: 26955894
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Originally posted by Winston Wolf ↑

Yet again Sunsetspin more excuses offered up for the "crack management team".

Of course they need capital. Decided to do a bit of light reading over the annual accounts. I thought the minimum spend requirements to keep the assets in good standing were of particular interest :

Note 16
$723,836 this year and
between years 1 and 5 $7,238,856.

Again this is minimum exploration spend that is required to keep the assets. Not working capital or money spent by the parent company on the ASX.

That's beofre you pay $1.1 million back to the debt holders in order to get security back.

Then there is the issue of directors remuneration and lunch money because everyone has got to eat. And when you've got $8k a week coming in the door then its surely just steak and lobster and I'm not talking "surf and turf" down at the local with one prawn on top.

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Winny do you know what Stephen Hunts salary was at MNS?

VRC Price at posting: 1.7¢ Sentiment: None Disclosure: Not Held
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