The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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"Tax in Mozambique is eye wateringly high £283k on £405k profit. Can't see any explanation. Prior year was c30% "
I am not an expert but I think this is a charge for accounting purposes. See Note 25, where it says the tax paid was £92K, which is not that bad.
The Board of XTR has the doubius pleasure of announcing more bread for the foreseeable future but lots of jam sometimes. 24'5'6 who knows?
But we take this opportunity to thanks all shareholders who have contributed so handsomely to our nice fat regular monthly pay checks and share options and other perks in order for us
to occasionally inform them about the company they have invested their hard earned money into.One particular thank goes to all the rampers that have over the years made it possible for us to make investors believe that this is a race horse and not an old , overworked,diseased 3 legged blind deaf and constipated albino mule.
"the directors anticipate net operating cash inflows for the group for the next twelve months from the date of signing these financial statements.
the directors have assessed the working capital requirements for the forthcoming twelve months and have undertaken assessments which have considered different scenarios based on exploration and mine development spend along with a number of production forecasts until june 2024.
upon reviewing those cash flow projections for the forthcoming twelve months, the directors consider that the company is not likely to require additional financial resources in the twelve-month period from the date of approval of these financial statements to enable the company to fund its current operations and to meet its commitments. the group will continue to monitor corporate overhead costs on an ongoing basis."
they would really be taking a **** if they were to raise after this statement, so that should give us some hope we can go for at least 12 months without any placings.
Could he not have provided a bit of a current picture with the revenues that are coming in at the moment to alleviate the cashflow concerns?!
Held a few of these when the drilling on Bushranger/Ascot was in full swing and listened to CB’s enthusiastic interviews with journos. But the more I looked at the endless hype without delivery convinced me to cash out. Luckily broke even but would now be seriously underwater.
Money nearly run out based on todays RNS, more jam tomorrow possibilities means this only going one way in my humble opinion and that is sinking til the board can longer take the cash each month for their salaries then over and out. Someone posted the record of CB in all the companies he runs and the share price performances. Speaks volumes.
Hold on.
Are people willing to accept half the share price that CB said he would tell AA to shove it?
Personally I'd take 7p any day of the week. Been a long old journey..
"Give me 5p I'm out."
me too
20th June RNS "The Board of Xtract Resources Plc ("Xtract" or the "Company") confirms that it will publish the Company's audited results for the year ended 31 December 2022 before the end of this month, the timing of which reflects the change of auditor as announced on 30 March 2023. The Board expects to publish the Notice of the Annual General Meeting as soon as practicable thereafter and a further announcement will be made shortly." Promptly please Colin.....
Wouldn't it be fair to say that as gold production increases all in costs per ounce will decrease. Or at least that's how it normally works !.
I think we should all stop moaning at the next good news though. Let's pump and dump these shares onto others. Give me 5p I'm out.
We need to get in the person who negotiated the FB deal for MMP. Played a blinder.
Lucky520 Lol !
The big pink area was an Elephant !
Or was it a cigar, or a root vegetable of some kind !
If you could be bothered to scroll back you would find BenHowell posted a highlights a couple of hours ago.
DYOR !!
Jezzoo
Wink
I should have sold when dani asked at the agm.....is it the big pink area thing AA will buy.
I've been here a while and wondered why so many trolls turned up over the years to criticise Colin.
I thought it was traders trying to bash the price down but, in reality it's ex shareholders he's mugged for their hard earned.
Looking forward to the AGM, I hope the whole board gets whats coming to them.
Taking us for mugs. I'm voting to out the next board member regardless of who it is!! Shame its not colin!!
Another cracking deal that delivers for third parties but very little if anything for shareholders.
Nice 30% increase in base salary for CB to £126k
Tax in Mozambique is eye wateringly high £283k on £405k profit. Can't see any explanation. Prior year was c30%
"the Group’s performance is not readily measured using quantitative key performance indicators"
Well actually yes it is Colin. You might not like that those indicators show zero shareholder value delivery, but yes you can measure your performance using quantitative indicators. If you doubt this take a peek at the SP.
>>cash costs for Manica will be 800/oz
Didn't Bird say 700 in a recent interview? - More lies!
It's a pretty crappy deal if you think about it, our licence and MMP can ramp up the 'costs' to whatever they like!
Thanks James
How did we get a tax charge on a big old loss? seems a bit harsh
The full report is on website, looks like cash costs for Manica will be 800/oz
The vote does not mean we sack him - it is an official means of letting him know we are not happy though! - Something has to be done, we cannot allow him to keep lying to us!
I'm interested where £5m cash went to in 2022?
most if not all BR drilling was completed by the end of 2021 - although there was a £2.5 m payables balance at end 21 presumably for BR drilling costs.
That's still £2.5m outflow from a company that wasn't really doing a lot as MMP were setting up manica? maybe money was thrown in there for further drilling etc
will be interested to see board remuneration
no mention of near term income from zambian copper
hoping that we have accrued significant cash/gold stock in 2023 to date, would be interested to know our current cash position.
Its time for this company to spend as little as possible on overheads and new ventures and start accruing funds from Manica to show the market that we got at least one thing right.