ERL 0.00% 0.3¢ empire resources limited

Sorry correction on correction.. they still owe $8m AFTER they...

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  1. 102 Posts.
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    Sorry correction on correction.. they still owe $8m AFTER they had paid the $5m. They where a bit cheeky with their wording if you notice. If they owed 8 and paid 5, say they owe 3... but if you read again in that context will see what I mean. Also the other way to get to same number is from the financials. The mining work done to date is $11m (from financials) plus the $2.3 for the loan fee equals $13 less the 5 they have paid equals the 8 left owing. But remember they owe only 60% of this. Brimstone owe the other 40 and of course get 40% of the net income also. But then need to pay back the money they owe erl. I did some modelling back when I bought in and the 11 to date adds up with the total mining cost of 13-14m. So seems everything is going to plan (within reason anyway) other the the debacle with milling and Burbank's. I wish they would come out and clearly say what's went wrong there and what was the loss.
 
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