Im not likely to forget about my $200k.I spent the day doing detailed reading and dissecting the numbers and I am still shocked.The call to sell the GWR investment is ridiculous its not going to touch the sides.At their spend rate and debt level any GWR money might just keep the perth office running to dec.Its hardly going to pay for buildings at the project.If we take the GWR investment off the accounts things look impossible.Why have they signed such early production royalties when they have no finance?They already paid a variation penalty to change the original date.Default the commercial production by 1/4/11 and they are paying an extra $600k per yr.I see no mention of who they sold the 68m shares to,but you can deduce by the lack of substantial holder notices that those people have already sold them for a profit on market.On the notes in addition to 45m shares accounted in the 6mths they issued another [email protected] not accounted.Why with these results are the wages so high?As the auditor said they have not reviewed the prudence of business decisions,but with such spending and taking on such a high debt commitment it would be prudent for an audit of operations and the decisions made.
- Forums
- ASX - By Stock
- half yearly acounts
Im not likely to forget about my $200k.I spent the day doing...
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)