Fortune, others, you need to lift on the research pls. Cash at bank at the sept qtr was 71mio, but this preceded the Gecamines acquisition, and included proceeds from raising. They have since drawn 50mio of the Taurus but needed to draw on cash at bank of btw 50-54mio to add on top to complete the Gecamines settlement therefore cash at bank after acquisition about 20mio.
on the bright side they reported at the end of the sept qtr report that they had 35mio in trade receivables, incl concentrate and cathode available for immediate delivery or in transit, so you,d add this and the SXEW production during the dec qtr on top. Remember the dec art earnings will be wiped out by 29mio in opex and admin + 16mio for development. At best dec qtr SXEW production earning will cover forecast outgoings. My question has always been that in the absence of mining what is the 16mio being spent on? The leach pads and conveyor are largely complete. The electrical upgrade really can't proceed until the transformers are procured and delivered to site, so what is this ongoing development costs depleted the free cash going towards? We need clarity here, and also what is the development spend moving forward. Am I missing something, can it be that hard.
Clear transparent disclosure, we are not stupid, the long termers want answers, and if we are confused, why would newbies touch this. If they are right on forecast opex, yes we are oversold, but this volatility rewards and attracts the wrong people on the share register. The more long termers will to stick this baby out past 35-40c protects against sp volatility, and that is best for everyone. Even Gunter has a soft spot for tgs deep down,
and it's in all interests for this stock to be valued at or around its fair value over 35c!
Gltah
