GREY:LBEFF - Post by User
Post by
CalifDreamingon Dec 13, 2007 3:55pm
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Post# 14016862
I repeat - anyone have ''08 prod guidance?
I repeat - anyone have ''08 prod guidance?Doesn't anyone know what the heck this company is guiding for '08 for production?
Nash has missed every bit of guidance he's ever given by a country mile, but come on, he has to at least have the cajones to give production guidance now that they are in "commercial" production. I've looked on the website and in the financials, and there isn't a peep about guidance - just some tonnage projects (but no grades).
Looking at the $42MM in equity raised this year and comparing to the financials, I am hard pressed to find out where all the $ has disappeared to. At end of Q3 current liabilities exceeded current assets. During Q3, a director had to loan them $120K for working capital to keep the lights on. What ever happened to the millions of free cash flow that Nash laid on last year's investor presentations? Even at 300tpd, they were "supposed" to throw off $1+MM per month at $10 Ni weren't they?
Until McWatters ramps up, LBE looks to continue to be a money losing operation. And McWatters doesn't look to be ramping up until Q3 '08 assuming (and that's a big assumption when Nash is involved) they proceed as planned.
I have to hand it to Nash. He managed to obfuscate far longer than I ever thought possible and raised a lot of cash at prices that were amazingly high. He deserves a prize of some sort.