KZL starts the quarter with $30.9m in the kitty, raises another $25m, draws down a further $15m under the ANZ working capital facility and reduces receivables by $14.5 million. That amounts to $85.4 million.
Cashflow spend was Einasleigh of $16m, and reduced creditors by $10m. Cash in bank $10.8 million. A total of $46.8m.
Black hole= $38.6m.
They cannot afford another quarter like this one with only $10.8m in the bank. Lounge lizard now anticipated to be out the door by the 3rd quarter? Getting way too tight, no wonder the finance guys got out!And the bank facility matures end of February as well.
Cheers, TAS
KZL Price at posting:
28.0¢ Sentiment: Sell Disclosure: Not Held
