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Hi, what do you think they did with the 600.000$ of cash they...

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DoctorFouad

2,426 Posts.

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30/07/16

02:54

Post #: 18405282
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Originally posted by samfiodiving ↑

Guys now i will apologise if i am wrong but the more you look into this the more it is on the nose

I posted the line below on the 3/6/16

They have projected $275k CASH BURN next QTR = NEG $111k by JUNES END

If you look into the June qtrly you will see that BSM supposedly Have $166k cash at hand which i cannot deny they do have,

but look a little closer and you will see they took out a loan from somewhere to the tune of $480k to show that $166k cash in hand

talk about smoke and mirrors

So without that borrowing @ junes end they would have been showing a negative - $314,000

So before they start at some stage from this recent CR debacle there is a negative $314k deficit to catch up on, outstanding from the last qtr debt

So close on 3 times what i predicted in my june post

make of this what you will, and i will stand being corrected and apologise as i said if i am incorrect

And i also got my answer with regards directors buying

talk about one and all in the trough

but i wont go into that i think even the hardiest of supporters have now seen through this CR

Have a good wk/end

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Hi, what do you think they did with the 600.000$ of cash they received from LionGold during q4 2015/q1 2016? I verified their last 3 cash flow quarter statements and I couldnt find the 600.000$....

They have an average cash burn each quarter about 220.000$, half of which (110.000$) as a care and maintenance expenses for their tasmanian que river property (that is a big number, we are talking around half million$ each year of expenses, better they get rid soon of this cash burning property).

BSM Price at posting: 1.5¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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