Compamy takes up own shares as part of the 1.8M!!!!, page-7

Wishy Joe new

Not the best first day on HC for you.

As per the annual report which when lodged caused a suspension of the shares on ASX until the company could show it had sufficient funds the company HAS THE MOST DEBT AT ANY TIME IN COMPANY HISTORY AT 19%!

until announced it has not then it has....

DEBT
300K from Richard Tacon at 19% mastercard rates
1.1M from other directors and Hamish Brown at 19%
a Convertible note with 350K + interest remaining which cannot convert any furher so is debt

It has the lowest normalised market cap in recent years. Range in prior 10 years 60M Peak- 16M low
Share price wise the current boards highest share prices achieved are the same as the lowest share prices of prior performace

Consent wise
First time company has lost mine access in its history as managment incompetence let such lapse for COST CUTTING which didnt change the 1.2m in operating costs
Company currently has NO AUTHORITY TO ENTER AND OPERATE THE MINE

INVESTMENT INTO MINE
According to their annual reports the company has expended the least amount on the mine in the last three years than at any other time in its history showing it has done next to nothing in the mine area or exploration in 3 years.

How anyone could say it is in the storngest position it has been with such a weak balance sheet, redduction in book value of mine and as your own maths suggests less than 2M the board required to commence any kind of production activity which is i assume why the company had to remove the words successful from a failed offer in its recent correction.

Perhaps you are best back in the nz social media land where you can spout forth such ludicrous statements and all will praise your words

Wonder what the 16.5M shares issued on 6/8 relate to? Surely couldnt be yet another clerical stuff up?
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