Waiting for annual report 5034t Cu +20% $35.238m 213,482 oz Ag +15% $4,269,640 $39,507,640 for Q $158m for year Cash costs -11% Cash $21.2m Debt $153.9m Debt reserve account $2.2m Debt/equity 86% Net gearing 60.8%
Plant officially opened by the president of Botswanna on 7th Sept 2012. (1 year old, still in ramp up stage) 635 employees. 2 mines Plutus 1.15% Cu 15.7g per t Ag Zeta 1.39% Cu 21.5g per t Ag
Now your question, whats wrong? Share price has fallen therefore capitalisation below debt. Share price need to be at least 32c. Company needs to hold $30m cash.
Company is working with lenders with a view to re profile its debt over a longer time frame, has been granted a waiver so that funding of the debt Service account is capped at $8m up to 31/12/13. The account has $7.7m but was required to be $19.2 m by 30/9/13.
Company will report a loss of $224.3m for year of which $205.7m is a write down.
Lets hope for better days ahead!!!
DML Price at posting:
6.9¢ Sentiment: ST Buy Disclosure: Held
