Can some credible person explain to me how a company can put out a report to shareholders saying : we are issuing shares in lieu of cash to “unknown personnel or contractors or companies”. Where the hell is the ASX on this type of matter. “Transparency/Disclosure”? Willy Nilly, “oh yeah by the way issuing a sh#t load of shares to unnamed recipients”. Shareholders none of your business. Wtf? Well TBA, I have a feeling shareholders will today let you know what they think of this new handout. Brace, brace, brace. Obvious the $ tin is empty. $500k forward sold 200 ounces a drop in the ocean for what’s needed. Now TBA paying for services in stock, process plant probably seized? ( TBA saying they have problems! Why not tell us if big or small problems?) don’t start. Then : $5m still owing on Lorena. SO, where is the cash going to come from?,
1. $5m due in March for Lorena Project.
2. Payment of $1.5m for True North copper ltd. tenements?
3. Waste removal of 10,000,000 tonnes of waste to access the Mt Freda orebody.
4. Continual mining of Golden Mile?
5. Costs for mining of Mt Freda orebody.
6. $3-$500,000 on maintenance/recommissioning Lorena SB plant
7. rental $110,000month for GAM plant
8. $450,000 month for fuel for hired generator to run the GAM plant?
9. Cartage costs of ore from Golden Mile.
Seems today, Tombola has just inflicted another Hatchet job on itself. I would love the company to give a current financial Update NOW to reassure shareholders. I think after seeing that we have to pay contractors ( assuming because we have to guess) that we are burning thru the cash quicker than “budgeted”
Can some credible person explain to me how a company can put out...
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