GREY:PTQMF - Post by User
Post by
wwadehammeron Feb 17, 2014 8:20pm
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Post# 22218176
You could hear a Pin Drop
You could hear a Pin DropWow, I suppose they could survive without a buyout from FQ but what a disaster. They've mortgaged all gold production until 2017- what little there is. Still don't have enough equipment to run the mine and supply aggregate. $100 million in accounts payable. Behind three months on DB contracts. Either the company has some kind of deal upcoming with FQ or the chairman has lost his mind. How they're managing to keep the creditors off their backs is beyond me. To me, it's like management is living in some kind of dream world. They've almost completely stopped gold production - for what $2 million per quarter in profits from FQ? That doesn't even pay G&A. This company has been mismanaged into the ground. What a nightmare.