I'm not really sold on the great achievement of having $30 Million dollars on the order book and basically having no cash as per Sep quarterly to proceed with such a works program, plus the $1 Million dollar debt facility, how this is going to be enough cash to run an ASX listed stock as a going concern, I'm not sure of.
I'm a small Business, a few years ago having a debt facility of around $400k, plus a small Overdraft, and believe me I ain't turning over anywhere near $30 Mil.
Something is just not adding up here, money is surely going to be tight, unless they can somehow increase the debt facility to $2 Million in the least, or a CR in the New Year.
You would think the banks may back it up with a RIO deal in the least
New Feature Announcement!
We’re excited to introduce the DealRoom portal, now live on site, providing users with exciting access to private equity opportunities for both pre-IPO and publicly listed companies.
See full details by selecting the new menu item named 'DealRoom' on our main menu bar or click below.
Stay ahead of the market, with HotCopper.