Looking at the company's own announcements even with the lowest...

Looking at the company's own announcements even with the lowest range of what they provided in the 2023 offer document the company requires at least 3.7M of cash outflows to lose 800K and at upper end 4.5M to make 700K.




As stated in the annual report company only had CASH (including bond) of 600K at end of march.
Company has been spending approx 350 a quarter while doing no mining whatsoever. So while they have 500K of debt at mastercard rates they can draw down they must be nearly out of cash given its now End June.

Add into that prior costs of mining with Terra Firma and its difficult to see how the company can continue as a going concern without a cash injection.

Auditor seems to agree given a disclaimer of audit opinion in an audit report means the auditor was unable to gather enough evidence to form an opinion on the financial statements, and this lack of evidence is both material and pervasive. It's a serious situation where the auditor couldn't conclude whether the financial statements are fairly presented due to significant limitations in the audit scope

In essence, a disclaimer of opinion is a strong indication that the financial statements may not be reliable and that the auditor cannot vouch for their accuracy.

Given the company.s lack of transparency of any data relating to assays and volumes and total failure to make a single milestone on time can one really expect gold in April, I mean May, Scratch that I mean June, nope I mean should be a few months time.......

What an absolute shit show!!