Well.. This is clearly explained and where the problem is... "The Cash Flow"
By the Look, unable to pay the contractors, workers, ect... Also, clearly stated TWICE that is still in Negotiations and not Complete....They are Confident good outcome will be achieved though.
Its Understandable that the weather was bad... But didnt they think about ? Back up Budget for situations like that ? Or are they really on knife edge ?
Who to believe on that one
That said, i m in till the end ... Black Or Red ?
"As a result, the Company has been undertaking discussions with service providers in order to ensure
ongoing delivery of services. During these discussions, a key supplier withdrew services on Friday 2
September 2016, until a revised payment arrangement is agreed. The key service provider has agreed to
re-commence site on works on a rescheduled payment arrangement.
As a result of the various arrangements with key service providers, the Company is negotiating agreements
that alleviates pressure on the Company’s cashflow. These discussions, although not complete, are
progressing well. Although these discussions are not complete, the Board is confident that a satisfactory
outcome will be achieved.
KBL Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held