Agreed the $11M capital raising is only to keep the doors open, and won't hold creditors with aged accounts at bay for long. With $26M owed to creditors, it won't 'last'. The $11M is already owed. It is just a matter of how long management can drag out payment to existing creditors. That still leaves $15M debt to creditors, excluding Investec, plus ongoing expenses, interest and overheads accruing.
What in your opinion is the step change required as opposed to the incremental improvement in mining being favoured by management?
"The rise in the price of gold will have little bearing on the transaction price relative to the substantial capital to rectify the plant and get the mining on track." Has management wasted or mismanaged the $100M+ already 'invested' in plant? How much and on what does capital need to be spent on to achieve an optimal operation?
NMG Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
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