where the hell is the asx ...?

$800K at 31/12.

Maybe 350k of production from 1/1 to 21/2.

**Maybe (optimistically)** $2 per oz positive cashflow.

POS at near 12-month lows and trending down.

Over $2m debt repayment due by 21/2.

Even if announced this afternoon, doubtful a capital raise could be completed by 21/2

Based on its own disclosures, we have a company on paper announcing insolvency .... and not even a "please explain" from the ASX!

The stupidity of not announcing a capital raise immediately after the "how good has production been for 12 days" announcement, especially when it had already obtained approval for 25% dilution from shareholders is now being surpassed .....

I'd like to nominate the friend-in-need CBA for the gong. Keeping on forcing the company to announce ridiculously unachievable debt repayment deadlines only serves to reduce (existing and potential) shareholder confidence, making the capital raise (CBA's only chance of receiving its money in the near-term) less and less likely to succeed.

I was an ex-shareholder highly likely to have participated in CCU's next capital raise .... now, not so much.

Double-GLTA.