Grim,
You crack me up
A going concern note is written when the auditors believe that the company may not pay his debts and liabilities when they due and payable within the next 12 months. The auditors scrutinise the company's forecasts and assess whether this is likely. It's not about whether they have debt, it's about whether they can meet their debt obligations within the next 12 month period only.
FMG is far from that assessment as it is still in a profitable position. In a break-even and loss-making position FMG can then:
- Seek for funds through debt or equity.
- Refinance current debt.
- Stop paying dividends.
- Sell assets.
The continued fall in IO prices is a concern to the SP however.
Going concern, page-51
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Last
$20.10 |
Change
0.700(3.61%) |
Mkt cap ! $61.88B | |||
| Open | High | Low | Value | Volume |
| $20.26 | $20.49 | $19.94 | $337.2M | 16.71M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 38056 | $20.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.15 | 20000 | 1 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |