IJ,
Try reading the " Henty Gold mine update" ASX announcement on the 7th July.
page 1 paragraph six the last sentence " the company expects to report a significant loss for the financial year 2013/14."
This same announcement page 2 paragraph 2 "In the last 12 months alone Unity has expended around $60M on employee wages, contractors and suppliers"
As for Liongold they have pulled the pin because they so no value in investing further money down the Unity gurglar. They are no longer bound to any agreement with Unity. They see the writing on the wall time to cut their losses.
uml may have $13.8M in gold sales but it wasn't enough to cover their operating costs. The mine is closing down in 2015 because they are running out of gold and the mine is not profitable. THis is all clearly outlined in their ASX announcements.
No ten bagger here unless some serious gold strikes hit in their next round of drills.
Is there anything else IJ?
IJ, Try reading the " Henty Gold mine update" ASX announcement...
Add to My Watchlist
What is My Watchlist?