The prepayments were disclosed in the original RNS and in pre ious years. "In relation to cash at the year end this was US$3.6m (2020: US$7.2m). Cash generation as indicated by EBITDA was much higher in the current year. The utilisation of funds by the Company was a result of a net repayment of loans and capital expenditure in the year and a substantial prepayment in relation to production facilitation for the forthcoming period. These have resulted in a drop in the cash balance at the year end, the balance is expected to increase as the prepayment is unwound and as a result of higher revenues from the increase in gold prices.
Kazakhstan has strong links with China,( who love gold) . The Assaubayevs are in the process of floating a steel company there on the HKEX by way of an IPO. Its another route for fund raising.
Morning Spike, aside from the AGM notice, have you received communication from Altyn that the Annual Report will be available by 30th June? It's making some holders jittery.....
Judging by the amount of drilling undertaken since the last update at Teren Sai and Sekisovskoye, I believe their is potential for a very substantial increase in resource/reserves.
RE: Kibo. Raises capital for a reverse takeover.21 Mar 2022 16:16
"If your research was so good, you would be living somewhere like I do. Not with one property, but with another, in the mountains, where it is cooler" Priceless, LOL
The word, "Permission" gives it away. Same wording used in England. There will be conditions but no appeal - appeals are for Refusals. There is the possibility of a Judicial Review but these are rare.