GREY:LRTNF - Post by User
Post by
ManicMiner001on Aug 16, 2021 7:14pm
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Post# 33714647
Re: Yet another financing coming !
Re: Yet another financing coming !The release of a press release at the close of business on a Friday (Friday 13th I might add) is never a good news event. This press release was a smoke screen for the 2nd quarter and six month interim financial and MD&A that was quietly filed last Friday. It makes for some very alarming reading. I won't go into the sordid detail but in a nutshell the Company has $33M in current assets and has current liabilities of $31M. That means the working capital is only $2M. The Company has admitted the AISC will only drop to US$1600 - US$1750 in the fourth quarter this year, meaning the AISC cost will be much higher until that point in time. No doubt well above the current spot price of gold. This is also a company that hedged a portion of it's prodcution with the debt lenders so doesn't get the benefit of the full gold price on all ounces produced.
Bottom line there is another financing coming, coming to an exchange near you!
And as per my previous post management were selling shares like bandits at +$3.00 just before Christmas 2020.