FYI, "At 31 March 2012, the Company had accumulated losses of $410 million and cash reserves of $100 million. The Company’s operations and development plans are dependent on raising additional funds. The Company is considering various forms of funding including the sale of project interests to raise funds, equity issuance and/or debt issuance to ensure the company can continue as a going concern"
Furthermore upto 16 May Osborne had produced 2167t of Cu and 3057oz of Au which should generate in excess of $20mm and it continues to produce. I don't see a cash crisis around the corner but clearly management is aware of the need to raise additional funds before the company can fund all of it's activities from it's operations!
ANZ
IVA Price at posting:
57.5¢ Sentiment: Buy Disclosure: Held
