Predictions, Figures & Chances of Surviving, page-31

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Overlordarcpapa

30 Posts.

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23/11/18

13:47

Post #: 36618107
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Originally posted by qqqqqqqqq: ↑

Annual report

''Subsequent to the financial period end, the Company announced that it had secured funding of up to $8,000,000 by way of Convertible Note (refer to note 13 for key terms).

The Directors believe that its existing cash reserves, future production cash flows and the capital raisings referred to above will be sufficient to meet the Group’s requirements for a period of at least 12 months from the date of approval of this financial report. Accordingly, the Directors consider the going concern basis of preparation to be appropriate.

However, should there be material delays in gold deliveries from the Cascavel Gold Project or should the quantity of gold produced during the next 12 months be materially less than expected, there is a material uncertainty which may cause significant doubt as to the Group’s ability to continue as a going concern and, therefore, the Group may be unable to realise its assets and extinguish its liabilities in the normal course of business.''

ímo only

They are now seeking another capital raise - which imo would indicate that the circumstances in the 2nd paragraph above regarding having enough cash reserves may have changed and now paragraph 3 may be may seem to be relevant at this point in time

DYOR

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your share price dropped by 60% since your comment was made, are you still being positive ? Lets see how low it goes

Originally posted by nikelin: ↑

It seems like you are very good at predictions. Did you develop this skill before of after you've lost yours and your friends money?

I believe that we are finally on the way of turning things around.

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OGX Price at posting: 1.1¢ Sentiment: Sell Disclosure: Not Held
2 Upvote

0 Great analysis

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Predictions, Figures & Chances of Surviving, page-31

Top Stories

Duratec snags $76.5M in works from Woodside and Defence respectively - including spy network upgrade

FBR's robotic home construction tech passes first US early-stage structural compliance check

Firebird snaffles Environmental Permit for Jinshi plant

Global Lithium latest hit by lithium downturn; shares fall -10% as Manna DFS paused

Steadfast Group sees $600M wiped off on resumed trades after Four Corners feature

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