RE: Transparency11 Jun 2024 21:29
Trippy. As you mention me.
There’s nothing new in it. Not me, Ggp spelled out the position in March. It doesn’t include acquisition(s) or additional funding for more than its own 30%.
‘Management has prepared cash flow forecasts for the next twelve months under various scenarios. These scenarios anticipate the Group will be able to meet its commitments and pay its debts as and when they fall due subject to an equity raise or utilisation of the Wyloo debt facility and completion of the Havieron Feasibility Study allowing access to project financing from the banking syndicate of A$220 million. The Group is confident that it has the ability to raise additional equity or debt, if required, as it has successfully demonstrated in the past.
If required, the Group has a number of options available to manage liquidity including:
§ Significantly reduce expenditure on its own exploration programmes;
§ Significantly reduce corporate costs;
§ Raising additional funding through debt and equity, or a combination of both, which the Company considers it has the ability to do, should it be required and has demonstrated an ability to do so in the past.
Should the Directors not achieve the matters set out above, there is significant uncertainty as to whether the Company will continue as a going concern and therefore whether they will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report.
Having prepared forecasts based on current resources and assessing methods of obtaining additional finance, the Directors believe the Group has sufficient resources to meet its obligations for a period of twelve months from the date of approval of these financial statements. Taking these matters into consideration, the Directors continue to adopt the going concern basis of accounting in the preparation of the financial statements.’
Sign In
Follow the stocks
