Well, where does onestart?
The 12/19 $7.4m Net Assetsinclude $1.7m of HPA Exploration & Evaluation and $4.8m of Explorationcosts for the gold properties (unchanged since June 2019) and I we are led tobelieve there has been no reason to diminish the book value of the (unsaleable)gold assets in the intervening 6 months? I wonder how much – if any - of the $1.7m HPA exploration costs will be realisable? And the $4.8m for that matter.
At June 2019 there was$30k security held over three HPA ELs and $606k Performance Bonds attributableto the gold tenements. These appear to be unchanged @ 31-12-19. Presumably the $30k will be released now that the tenements have been surrendered – assuming, of course, that no remediation work will be required at Yendon.
Offsetting the $606k PerformanceBonds is a $290k Site Rehabilitation liability so, presumably, there may be$316k cash available if/when the gold tenements are released (andrehabilitated) – but when ????
And so the December 2019Cash + Receivables of $593k is available to meet the $213k CurrentLiabilities suggesting a liquid surplus at 31-12-19 of $380k; the December 5B report to the ASX anticipated 1Q2020 expenditure of $384k – except, of course, some of that $384k would be to meet the $167k December 2019 A/Payable. With 6me 12/19 Administration costs of $836k one could assume the March Quarter’s would be ~$418k. Hmmmm, somehow I get the impression there may be a cash crunch at the end of this month, March. The 31/3/2020 A/Payable balance will be interesting.
In 11th May2018 Mr McFarlane announced that “Hill End had appointed PCF Capitalto conduct a strategic review of its gold assets” and with *****’s then reported gold price was USD1325/oz and the USD:AUD FX rate was 1:1.3251 meaninggold was selling at AUD1755/oz. At 31-12-19 ***** reported that gold was selling at AUD2160 (USD1517 x 1.4243). 2160 / 1755 = + 23%, not the 30% in today’s announcement. Yeah, only 7% or $123. But why not be accurate?
Next, I read that theBoard will “contemplate” updating historic economic studies. For goodness sakes, the AUD1600 contained in the previous studies can at least be updated to $2000 (a +25% increase) butthe relevant costs must also be updated. The Hargraves study was in 2010 and the CPI has increased by ~20% since then so just how viable is Hargraves today?
All in all, it's hard to not say that HEG, now PUA, is a basket case.
The “old” resources for the HillEnd resources totalled 3grammes per tonne. Less than /10th ounce per tonne, and this is seen as viable ?????
- Forums
- ASX - By Stock
- PUA
- Ann: Half Year Accounts
Ann: Half Year Accounts, page-2
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PUA (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.5¢ |
Change
-0.001(10.0%) |
Mkt cap ! $4.686M |
Open | High | Low | Value | Volume |
0.4¢ | 0.5¢ | 0.4¢ | $59 | 14.75K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 31162660 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.5¢ | 1653472 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 31162660 | 0.004 |
8 | 37429422 | 0.003 |
18 | 13630557 | 0.002 |
18 | 54877775 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 1653472 | 4 |
0.006 | 4138386 | 9 |
0.007 | 5142850 | 2 |
0.008 | 2052728 | 5 |
0.009 | 300000 | 1 |
Last trade - 11.30am 17/05/2024 (20 minute delay) ? |
Featured News
PUA (ASX) Chart |