The pertinent figures in the Q2 report are: Cash at bank 48mil Plus:Restricted cash 27mil Plus:A/cs receivable 6.6mil Less:A/cs payable 43mil Less:Current borrowings 20.5mil Less:Capital committments 26.7mil
The restricted cash has now gone to pay-off their hedging committments to date. Their NZ operations don't seem to be spinning out any cash especially after hedging for the next 27 months - and they owe convertible noteholders $100mil long term. It all depends on what they can sell Didipio for as I don't think they can just sit on it for too long. Are current Management capable of getting anything for it? I'm only holding hoping they can pull a rabbit out of the hat but not holding my breath.
OGC Price at posting:
37.0¢ Sentiment: Hold Disclosure: Held