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19:09
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Originally posted by miningnut:
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RSG always loses votes on 'colouring' their statements and definitions - one such example is with their definition of 'net debt' - they manage to deduct Mali receivables, gold bullion(stocks) and listed investments from their definition of net debt - most reputable companies such as AQG apply the proper meaning to net debt being interest bearing liabilities less cash. So if we apply the correct formula to net debt then RSG's position at 31Dec18 was US$107mil being drawn debt facility $US100mil plus Mali bank overdraft of 20billion CFA being US$35mil less cash of $A38.7mil being US$28mil - and we can probably assume that they have now drawn the extra $US50mil from the additional debt facility so net debt would now be US$157mil. If we are comparing to AQG then you say their net debt at 31Dec18 is $US205mil, although I have it at $US245mil being $US350mil drawn facility less cash $US105mil - I have no idea where you get $US205mil from.
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Did you just accuse RSG of "colouring" their reports then you just "assuming" that they have drawn down on US$50m extra debt without any confirmation?
(20min delay)
