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Receivers Playbook, page-34

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Clybigz

706 Posts.

421

08/08/23

14:31

Post #: 69224560
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Originally posted by mondyinvest: ↑

OK, so according to you my “unequivocal FABRICATION” (in caps for good measure) is my assertion that a) $82.6M is a lot of debt and b) the mines aren’t making money. Let’s look at the facts:

In the 12 months to date, even with $34M of GST refunds, they’ve had negative operating cashflow of ($119M). They had to raise an additional $85M in October 2022 and then another $50M in June 2023. The latter raise came during two quarters when their debt payments were deferred. They also gave up 10% of one of the projects to get a cash injection. As things stand, the mines are not making enough money to service their debt. That’s factual.

Then, post the latest raise, two directors, one of them nicknamed ‘Mr Coal’ and the other one the company founder (!) resigned one after another. And you are busy telling the forum that things are going to magically turn around from here, the company will easily be able to service tens of millions of debt, and anyone who disagrees is “misleading” the forum etc. No wonder you’re wearing a huge L on this at the moment.

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Sigh.

When you (in typical fashion) resort to hyperbole and misrepresent my responses, it becomes not only too exhausting for me to correct you but also results in congestion of the thread with a back & fro that most are presumably not interested in reading.

When you can actually post ACCURATELY and without derision, I’ll be more than happy to correct you, until then persist with whatever helps you sleep easier at night.

BCB Price at posting: 8.3¢ Sentiment: None Disclosure: Held
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