RE: Its finished. Game over. Sorry guys7 Dec 2023 10:39
Read no funding issues at least until end of Q1 2024, so this means they can extend to June/July easy with expenses at bare minimum. Have £3.5m worth of concentrate ready for sale…
Cash position
The Company's cash assets at 30 November 2023, were approximately GBP517,000. The Company does not currently hold US treasury notes. The value of unsold concentrate within Inventories at 30 June 2023 was approximately GBP3.5 million. No major capital expenditure items are forecast for Russian assets for 2024 and notwithstanding the proposed sale of concentrate (see below), the Company has sufficient working capital to meet ongoing obligations until the end of Q12024.
The Company's cash reserves are held in USD and GBP accounts outside of Russia and therefore not directly or indirectly exposed to Rouble foreign exchange gains or losses against other major hard currencies.