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6.9¢ moly mines limited

Ann: June 2014 Quarterly Activities Report, page-7

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badhan

2,452 Posts.

28

07/08/14

16:16

Post #: 13785214
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Originally posted by GetSome ↑

WTF - $4M burn in 3 months and for what. I couldn't make heads or tails from the quarterly as it looked like the date was just changed from the previous one.
There shouldn't be any money going out for the handful of staff that is left - or is everyone paid there over and above the award? But why wasn't there any interest earn't from the money is far more worrying??????
Was annoyed and rang and got the usual story that nothing is happening but continuing to look for projects (but read between the lines that no projects on the horizon that the Board and Chairman wants to approve - so it doesn't look like the trading suspension will be lifted anytime soon). I was also interested why so many Directors have left, but no answer given.
As for the China gov take-over ... is it April's fools day already? If the China Bank that Hanlong owes money to wanted to takeover and get things moving to realise some value and get the SP upwards again - it would have already - otherwise the same downward situation continues.
By my calculations, the $70M bank balance will be completely drained in 4 years - can't see it trading again before that?

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Bank will not take over.

CH gov will take over Hanglong as Liu has lost the appeal and will be executed in next few weeks.

MOL Price at posting: 6.9¢ Sentiment: None Disclosure: Held
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