is moto goldmines in trouble?, page-28

re: is moto goldmines in trouble? kanamint This is your post:

Subject re: is moto goldmines in trouble?
Posted 29/07/05 19:47 - 31 reads
Posted by kanamint
Post #664582 - in reply to msg. #664573

Sorry I'm still not convinced. I think it is in trouble and will probably be shown how spot on I am when the news comes out.

Transol had $6 million in the bank also and it went bust - that argument doesn't hold up. Also there must be some rumblings in the Congo - more political problems could be brewing.

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My comment:
The problem is that Transol never had $6 mill cash on 31 March. They even estimated a loss of $6 mill till June 30, 2005:

http://stocknessmonster.com/news-item?S=TNC&E=ASX&N=236091

Extract:
"the Transol Group anticipates a net operating loss for the 2004-2005 financial year in the order of $6 million".

Their March 31 Cash position was not $6 mill but $1.35 mill.

15 July: The receiver stepped in.

Why did you say that Transol had $6 mill cash when you knew they did'nt?

Or was it used to strengthen your argument?

Gerry