thornybot one issue that i have just come across is that from...

thornybot one issue that i have just come across is that from march quarterly report on page 10.

Net proceeds from Red Kite facility restructure $19 million.

this means they actually burnt $31 million dollars in the march quarter and not twelve million. am i reading this wrong. i dont think i am. if they continue along this path cash will run out by the end of the year. simberi will continue to lose cash until the end of the year according to the company , past experience says it will take much longer than that to get this plant profitable. market cap 68 millon and 360 million odd debt. gold price down another 12 bucks aussie on friday. like i said friday company is in serious trouble with gold price at 1342 auusie. king of hills their second aussie mine aisc is 1343 aussie so now thats losing money.


Cash balance 31 December 2013 70 mil
Gold loan repayments (7) mil
Net proceeds from Red Kite facility restructure 19 mil
Net interest and finance costs (2) mil
Leonora – operating cash flow [1] 28 mil
Pacific Ops – operating cash flow [1] (21) mil
– project capex (7) mil
Rehabilitation and corporate capex (1)
Corporate costs
[2]
(9)
Corporate royalties (2)
Exploration (5)
Working capital movement (5)
Closing cash balance 31 March 2014 58