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0.3¢ victory mines limited

Sorry, they also spent some time responding to ASIC letters and...

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Oversee

136 Posts.

56

23/07/18

18:16

Post #: 34524380
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Originally posted by Oversee ↑

That balance was for end of March. So if you minus the company’s own estimated outflows of $423k to 30 June it leaves only $445k, or not much left in the kitty less a further $140k odd (quarterly spend divided by 3) for July that is now at an end. Certainly not enough to fund a hundreds of hole drilling campaign that they are proposing. Not really enough to pay much at all except maybe a few some guys sitting around a desk “reviewing” and re-wording for announcements old data (which, when one reads the past 9 months of announcements, is actually all management have really done with this project since this “fast tracked” opportunity was announced last year). Indeed, I would like to know why Ms Hunt resigned as director out of the blue recently and whether it had anything to do with the way the company operates financially.

Plain and simple, the company needs cash urgently.

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Sorry, they also spent some time responding to ASIC letters and retracting or trying to justify earlier misleading statements made to the market. I left that out.

VIC Price at posting: 0.8¢ Sentiment: Sell Disclosure: Not Held
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