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2.4¢ winmar resources limited

Ann: Update on Status of Re-Compliance Listing, page-294

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beisha

5,702 Posts.

3802

08/05/19

09:33

Post #: 38460070
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Originally posted by Cosmoterios: ↑

The chance of this company waking up from its comatose position, is close to Zero now.

Have a look at the Cashflow Statement of its last quarterly.

https://hotcopper.com.au/posts/37293471/single

Point 5.1, it had $183K left in the bank.

Point 5.4, it had $684k tied up in a Trust Account in the DRC (means it can't access it, to pay for running costs).

Now, go to Point 9 - Estimated Cash Outflows for the March quarter - yup, $115k expected outflow up to March 2019.

Leaving the company with about $68k ($183k - $115k), as at 31 March 2019.

We are now in May 2019. How do you think the company can continue to pay wages and admin costs up to June 2019?

So unless you guys can dig deep into your own pockets, to lend money to this company, to keep it running and weather this Cobalt down turn, its going to run out of Cash very soon.

But who is responsible for keeping the company in suspension for 11 months?

It wasn't any of us. It was your hero directors!!!

Yes, heart palpitations - keep repeating that mantra.

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Hi my " ole mate"

Any chance of a loan to get WFE by?

Mates rates?

Cmon, you are the the next best thing to a bank, you told me yourself.

cheers

WFE Price at posting: 2.4¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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