I sent a detailed email top BDR and received a "nothing" reply to which I replied:
Dear Paula,
Thank you for your email. With due respect I and many shareholders have lost a lot of money on this stock due to what appear to be very inaccurate disclosures by management. Can you please answer my relevant queries in some detail? In particular I refer to the following presentation by Mr Bowler during mid September 2014:
Denver Gold Forum 2014 Company Webcast - Denver Gold Group
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 0 1 2 Denver Gold Forum 2014 Company Webcast - Denver Gol...Your browser does not support iframes. 3 4 View on www.denvergoldforum... Preview by Yahoo5 6
In particular I refer to the following statements within the above presentation:
1) $40-50m free cash flow expected during H2 2014,
2) $70-90m cash at bank from operating cash flow during H2 2014,
3) $20-$30m net cash position at year end and no debt from operating cash flows.
Was Mr Bowler unaware of production and cash flow for the September Qtr to date as at mid September 2014? As net debt increased by $20m during the Qtr, on what basis did Mr Bowler expect cash at bank at year end to be $70-$90m as at the time of the above presentation.
I will call a spade a spade and advise that it is clear that the above statements are extremely inaccurate and possibly fraudulent. I expect answers to my queries due to the materiality of the inaccuracy of a string of company disclosures.
I look forward to a detailed answer to my queries. This should ideally be addressed in an honest and transparent company presentation.
End
What are these guys smoking? We need to put some pressure on them.
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