"why the low share price qmn"

"Why the low Share Price QMN"...............Surely posters you have one among you that can read a balance sheet. I think everyone knows that QMN has some good properties and they are in a good area, but if there is one person among you knows an accountant give him the QMN Quarterly and ask for some sums to be done on the Financials I?m not but things don?t look real good, could be wrong so if there is an accountant among the faithful please have a look & advise.
I?ll give you one clue: $420k cash, $1m debt, See para 3.1 in Financials. Check out expenditure for expl/eval and admin for last quarter then check out the assumed expl/eval and admin for the next quarter. Work it out? based on the average of the last quarter that finished on 30th Sept, how much would have been spent up to 30th October which has to come out of the $420 cash. Then add on the creditors for last quarter (not mentioned in the quarterly) and the probable creditors for the last month after the end of the last quarter that ended 30th September, Glug, Glug, Glug, ding, ding, ding ding. I don?t claim to be a financial whiz but I always do the sums on the financials before I read the rhetoric at the front. Maybe there is someone among you that has come to the same conclusion as me why QMN is 8c.
Ding, Ding, Oxygen Tank please or maybe a big stiff drink is in order. QMN put out 5 announcements yesterday with the quarterly at after 8pm whilst our kids were sleeping & everyone unwinding on a Friday night. It?s not about how good the car looks; it?s about what?s under the bonnet. Lift the bonnet. I may be a country butcher, but I think something is about to be boned.
Having said that, I think with some good management the properties that QMN has look quite good and that with a good operator this company could be a winner. Unfortunately it can?t make a comeback until there have been some changes at the top IMO. This has been the topic of late and I would have to agree. Cloncurry is the copper capital of Australia and QMN is in the right place to reap the rewards, but seems to just spin the wheels, no shortage of QMN vehicles getting around the curry hey not many out in the bush. In any case it?s not the properties just the management. Good luck with this one, I?ve seen so many come & go over the years here only 1 in 10 seem to be the real deal. all the above is only my humble opinion.

Ikey Moses

? Few people know with how little knowledge the world is actually run.?