Note that while debt fell by $3m the accounts payables rose by $6.2m. However, cash in bank rose by a handy $4.3m to $5.7m, of which around $2.4m relates to a CR.
I hope they can raise the $10m when the SPP ends, or they are going to struggle badly, because the grade of ore being processed is not high enough to lower the AISC enough to get an operating margin to see them do the things they need to do over the next 12 months. We also need the gold price to stay above USD1300.
I would like them to pay out the Investec loan and not have to borrow from them again.
loki
TRY Price at posting:
11.0¢ Sentiment: None Disclosure: Held
