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0.4¢ cervantes corporation limited

Edit - “$122k cash or cash equivalent at 30-Sep-2018

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MeToo

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01/11/18

14:02

Post #: 36352185
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Originally posted by MeToo ↑

$122k cash or cash equivalent at 30-Jun-2018

$900k interest free loan facility(?) So what’s the catch? There’s always a sting in the tail! Amount drawn $900k

They state they have a 15% PA additional draw down available which is $135k PA and they are talking to potential future funders.

Cash $122K
+15% loan draw down 135K
= $257K

Expected spend... -$143K

Balance +$114K

$40k on exploration over 3 months, that’s not very much!

The $700K CR is not complete and they may not have any money from it and even if they have any money from it, until the shares are issued they cannot spend the money.

The 3b clearly states “anticipated issue date 04-Dec-2018” the closing date!

From my experience and in my opinion this is clever, where by not reading it properly people could easily think the CR is fully subscribed. Note - it is not underwritten.

Please correct if I am wrong.

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Edit - “$122k cash or cash equivalent at 30-Sep-2018

CVS Price at posting: 0.8¢ Sentiment: None Disclosure: Not Held
2 Upvote

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