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Fort, what on earth are they actually spending that money on each month?
I'd check your own posting history on that one Quady - to give you the benefit of the doubt, perhaps you weren't clear, you're not too good with words and a lot of what you say is lost in puerile insults. I think that's about everybody that's ever been on this board you've called stupid and a liar. It should be becoming clear to you why you've been despised from a very early age. From the school grass to the pub bore, you've blundered ahead, sure of yourself in a world full of idiots and liars.
I shan't be asking you any more reasonable questions if you are going to have a meltdown like this.
I did note that, but seems like some creative accounting to basically kitchen sink the majority of finance costs into that Quarter. Nothing wrong with that as companies do it all the time but it tends to be done to make sure you mask the real story.
Cash burn may well be less going forwards but that doesn't hide the fact that in the 12 months under merger/premerger control they've burned through $70mln to date.
On what??
Where are the apparent cost savings?? There's one entity doing very well out of this and that's Maxit. They are rakeing it in... oh and the legals...thye silks are doing well.
I'm bullish on a sale now simply because the rule book says when seeking to present shareholders a poor value deal first...
1. Hammer the share price down and let them know what the alternatve is
2. Run the cash pile down so they know the dilution story
3. Bore them to death so they want an ending
Then bang in a pony offer deal and pray someone esle comes in and gazumps it or kicks off a bid war.
That's it isn't it?
Seanhunter you are seen here as an idiot and liar.
I have not switched any investments.
You just make this rubbish up.
We are also producing an MRE4 to go alongside PFS3.
Add: "Other income represents rent received from the subletting of office space at 111 Eagle Street Brisbane."
Rcgl, exactly! You cannot make statements regarding the cash position which you know to be false without running the risk of having your collar felt.
Quady if you are going to basically burst into tears and stamp your feet when asked a reasonable question then I have no time for that.
As the talk of "going into production" has been the driving force behind the fall from 25p to 9p, your endless gabbering to try to promote it on here has probably done its bit to knock several hundred million off this company's price, so it seems pretty rich for you to throw a girly hissy fit if anyone asks you about a mine now that the damage has clearly been done.
I note you announced recently that you had switched much of the Quady fortune into "safer" investments - which seems a distinct lack of faith at this late hour in something you profess to believe is going to happen. You help talk a share down in price for 2 years solid and then jump ship when the consequences of your endless chundering about "going into production" are made manifest. Nice one. With friends like you who needs enemies.
Hi fort, cash outflows approx $9.5m, of which approx $3.2m from operating activities and approx $6m on "Acquisition and addition of exploration and evaluation assets". Which on the one hand sounds like 2/3 of the quarterly cash spend was one off costs rather than general burn... But on the other, what are these exploration and evaluation assets?
Pages 12-13 for where they talk about the need to funds..
That 20 million is not going to last long before we have to raise… and at this level, it’s going to hurt. The longer they leave it and let the cash level drop, the more our share price will come under pressure and the more any investor can exploit our desperation..
right now, with nothing to support them, the treasury shares are simply not enough.. Nice one Scott, good job.
SM, not sure I understood that.
I suppose what I was getting at is a point I've made before, which is that it's difficult to describe us as an Aussie business anymore and I assume the Brisbane office is used only for board meetings. Which must beg the question, do we actually need it? In fact the same is probably true of London. If I was a CEO on a cost cutting mission, I'd see those overheads as very low hanging fruit.
Add, we are renting our office space in Brisbane, so if they are they'll be remote
I'm struggling to see the cost savings that Scott has been championing?
Cash at Sept 30th $22.9m. Prior quarter £32m. So $11m burn in 12 weeks?
At this rate, they won't be able to sign off the next MD&A for Dec 31st on going concern basis as won't have sufficient cash to see out the forward looking Q1 period.
And Scott say's we have enough cash to see us through to June 2024?
With cash burn rate running at about $900k per week, we are now 6 weeks on from Sept 30th so cash balance likely around $17m now.
Drops to $10m around end of year.
Oh dear Scott... AGM looms, cash shortage looms... all the cost savings taked about... yet you've virtually spunked through $70m in a year. I think that's the largest amount I have seen spent when doing zero exploration and virtually zero work on ENSA.
Gob smacking incompetence.
Sorry seanhunter a discussion for adults?
Your question was beyond childish.
You honestly think that six Solgold people were going to construct Cascabel.
I think I responded in the appropriate manner to such a daft question.
FTE's:
1) SC
2) Stackhouse, CFO.
3) Christina Robinson, Director Corporate Operations and Comms.
4) Ryan Kee, VP Finance.
5) Ryan Wilson, General Counsel.
6) Santiago Vaca, Geologist.
7) Perry Holloway, Director Strategic Affairs.
Apart form the fact there appears to be seven and not six of them, we're not exactly overburdened with people who are mining experts, are we? And are any of them based in Australia?
We also are yet to engage a third party to complete the PFS
Quady have you never heard of a civil question? If you can't reply to one without resorting to cheek then I suggest you refrain from joining a discussion board with adults. You embarrass yourself yet again.
Seanhunter even you cannot be that stupid.
Have you ever heard of civil engineering.
Look it up, it will open a whole new world for you.
6 full time employees.
Doesn't sound enough to start digging a mine does it Quady?
From a brief read-through I can't see anything new, but then again these documents aren't released for that purpose.
I note we now only have 6 full time employees in the 'leadership team' and that a contingency has been made of 716k in respect of employment costs. I wonder if that relates to the action DC is taking against the company?
In the meantime, orchestrated high inflation, tumbles (4.6%)...bodes well for stocks in general!
ATB
Your parents must be so proud of you nal......................lol.
Needalife , it's probably best I stop ridiculing you.
Your beginning to sound like a highly strung pre pudesant 13 year old.
I'm worried about your mental stability.
A shame to see no one popping up to support you.
Needalife The irrelevant 2wat god help us
😂
Novice, it's probably best I stop ridiculing you.
Your beginning to sound like a highly strung pre pudesant 13 year old.
I'm worried about your mental stability.
Nice to see copperpot popping up to support you.
Novice and copperpot. The dream team god help us.
Those were the days copper !! But I’m fairly confident that that figure will be in the rear view mirror in a few months given all the noise coming from the site