I see the Australian Securities Commission are asking questions. See the latest announcement from FLS, the one below this post.
Here it is:
8 November 2011
Stephanie Yong Senior Adviser, Listings (Sydney) Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000
Dear Stephanie,
Appendix 4C Query
I refer to your letter of 3 November 2011 regarding the Company’s Appendix 4C for the quarter ended 30 September 2011. On behalf of the Directors, I respond as follows:
1, 2 and 3. It is not the intention of the Company to continue to expend cash at this rate for a prolonged period. As disclosed on 30 August 2011, the Company is in negotiations on an acquisition opportunity in the resources sector, and expenditure at about this rate may continue for a number of months. The future funding requirements of the company will be addressed in conjunction with any such acquisition.
4. The Company confirms that it is in compliance with the listing rules, and in particular, listing rule 3.1.
5. The Company remains in compliance with listing rule 12.2, and does not expect negative operating cash flows at this level to continue for a prolonged period.
Yours faithfully
Ian Gilmour Company Secretary
FLS Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held