silver pushing back thru us21, page-11

Hmmm ...

Hate to rain on anyone's parade (especially since I'm still in the parade), but for the record ...

When I made my post (31/7), AUD silver price was $21.74 (by my calcs). Currently AUD silver price is $23.52 (my calc again), so the rise has been less than 9% .... not the mooted 20%.

I also noted that:
- even if we get through this quarter;
- and even if we reduce Production / Development / Exploration expenditure from the $17.5m forecast this quarter to say $15.5m next quarter;
- and even if we reach nameplate capacity in August and keep it up through December,

we still won't be able to make the $2.5m debt repayment due by 31 December.

That's a lot of "even ifs" that still results in us running out of cash.

Doesn't matter how I cut the numbers, I can't see how the company can avoid another capital raise, unless it can further defer the debt repayment.

The only variable is the price at which the company needs to do the raising (which I think will be at a 30% discount to the prevailing market price)

So 3 cheers for POS, as the company will retain some credibility if it can get the next raising away at over 13cps ...