Sorry Yo Yo, I'm certainly no accountant, but they have current liabilities of $36,440,000 which offset the current recievables
Bottom line is they have 39 million in the bank. Down from 90 million a year earlier. They are leaking money big time.
They bought all these assets, but they are in fact liabilites till they produce money. In the mean time they will be a huge cash burn.(liability) to get them producing.
The 39 million in cash will soon disappear, unless the nickel price gets to, best guess, somewhere around $9.00 a ilb. Hopefully they can get production costs down. Are they implementing this ?
Its a pitty, the directors do not show some faith, by buying shares directly. If they consider to impliment a share buyback. They must see the shareprice as to low?
No dividend and no buy back. Unfortunately cash is running out quickly.
I'm looking for a good reason to buy back in. Second guessing the nickel price, is not good enough.
PAN Price at posting:
56.5¢ Sentiment: None Disclosure: Not Held
