SL1 0.00% 0.0¢ symbol mining limited

Ann: Symbol Mining First Shipment Underway, page-43

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  1. 6 Posts.
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    Do you understand the concept of working capital?


    This material they are selling does not magically appear - it must be paid for in cash before it can be sold.


    The company has little cash, lots of debt and the cash from this shipment will barely pay the rent.  In order to produce 1000 t of concentrate to sell, they need to spend well over $1m  and I suspect that it doesn't have it. let alone try and produce 4500t!!!


    The only place they will get it will additional debt from Nobel.  Nobel will then have them even more by the balls.  there only needs to be one payment delay, or one problem on the road and this company will be bankrupt in less than 24 hours.


    I have never seen a company sailing so close to the wind.

 
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Currently unlisted public company.

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