We're now I the 7's. Unfortunately, the share price should go lower. Cash is low. Will go lower hence the credit facility. Revenue is lower. Low grade ore from tailings isn't the solution to building a cash flow positive company. They must start producing in their own right. Without producing their own gold, the share price is spiralling downward.
On a positive note, the board are top notch. The tenements have potential. The long term story will unfold and the chart will hopefully turn. They're really tightening their belts with consolidation in WA. The only problem is that cash is so low...you couldn't buy a nice big house in Sydney with it...I would expect a capital raising soon.
It seems as through Victoria is soaking up all the cash???
ORS Price at posting:
6.8¢ Sentiment: Hold Disclosure: Held
