@midastouch0707, as far as I can see nothing has happened to Cosmo Gold (i.e. stuck somewhere going nowhere).
According to the Cosmo Gold FY22 annual report...
- The loss of the Company for the financial year amounted to : ($233,930)
- Cash & Cash Equivalents @ 30/06/22 : $51,123
- Unsecured liabilities (Trade & Other Payables) @ 30/06/22 : ($339,778)
- Borrowings (Loan - Adelong Gold Limited) @30/06/22 : ($1,250,000)
- Cosmo is supposed to repay $1,250,000 to ADG by the 31/12/22.
- The last sentence on pg.2 of the Cosmo annual report says "The Company will resume efforts to seek a listing on the ASX".
Whether or not ADG finds enough cash to keep Cosmo Gold alive (on financial life support), only time will tell.
WHATS HAPPENED TO COSMO?, page-2
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