RHK 0.63% 80.5¢ red hawk mining limited

Spending/Funding

  1. xax
    117 Posts.
    lightbulb Created with Sketch. 409
    From the Flinders Mines Financial Report for the Half Year ended 31 December 2018 it's mentioned there is uncertainty about Flinders Mines continuing as a going concern due to funding requirements however after little activity in the next quarter the payments to Directors and entities appear to substantially increase.

    "Notwithstanding this loan, the group will need to raise additional funds in the next 12 months. The Directors are of the view that funding will be able to be secured to meet going concern obligations. At this stage, these additional funding requirements have not been arranged. If additional funds cannot be secured, there exists a material uncertainty that the company will continue as a going concern.
    If the company is unable to continue as a going concern, it may be required to realise its assets and/or settle its liabilities other than in the ordinary course of business and at amounts different from those stated in this financial report."

    Payments to Directors of the entity and their associates
    December 2018 Quarter

    Aggregate amount of payments to these parties $295,000
    Payments to related entities of the entity and their associates
    December 2018 Quarter

    Non-Exec Director fees paid to TIO (NZ) $60,000
    Secretarial services paid to Evolution Corporate Services, a company related to Shannon Coates $23,000
    Professional advice and services related to tenement management to BBI Group $78,000


    Then in the March 2019 quarterly they mention "the company conducted limited operational activities as the next phase of work on the PIOP (and Canegrass) needs substantial working capital funding", yet payments to Directors and entities increased substantially:

    Payments to Directors of the entity and their associates
    March 2019 Quarter

    Aggregate amount of payments to these parties $606,000
    Payments to related entities of the entity and their associates
    March 2019 Quarter

    Non-Exec Director fees paid to TIO (NZ) $188,000
    Secretarial services paid to Evolution Corporate Services, a company related to Shannon Coates $36,000
    Professional advice and services related to tenement management to BBI Group $22,000

    https://www.asx.com.au/asxpdf/20190315/pdf/443jscxvt89mm8.pdf


    https://www.asx.com.au/asxpdf/20190430/pdf/444qc6cqym3813.pdf



    Last edited by xax: 22/05/19
 
watchlist Created with Sketch. Add RHK (ASX) to my watchlist
(20min delay)
Last
80.5¢
Change
0.005(0.63%)
Mkt cap ! $160.8M
Open High Low Value Volume
80.5¢ 80.5¢ 80.5¢ $1.24K 1.54K

Buyers (Bids)

No. Vol. Price($)
1 2531 79.0¢
 

Sellers (Offers)

Price($) Vol. No.
89.0¢ 2368 1
View Market Depth
Last trade - 11.02am 12/07/2024 (20 minute delay) ?
RHK (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.