FND 1.17% $4.23 findi limited

cash flow reflections - good luck

  1. 176 Posts.
    I have been holding fnd shares for the last 3 mths. For me it's time to write down a bad investment (20K-> :|)
    Looked to good to be true, sometimes it is.

    A few reflections regarding the consolidated cash flow statement:

    - Cash at the end of the qrt (ytd) is 3.821M. I'm not sure, but I have my doubts about how to find 167.4M capital investment for the Wetar Project. The 3.821M in the bank is awfully close to the 3.854M of payments in the last quarter. Basically, my prediction is that the cash till will be empty by the end of October.

    - The payments for both administration and production in the last quarter are roughly half of the payments for the whole year (??). Remember there's not a cent for receipts & I have not seen any valuation of production stock in the warehouse. Sorry, but this looks very much like "abandon ship" and take as much as you can from the sinking ship.

    On the positive side... it seems that global warming might ease the expenses on exploration & evaluation (less than 1% spent in the last quarter) :)



 
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