Company PositionThe genuine LTR can just hold at this price imo. We have around $14m in cash if you extrapolate from the 31/03/2013 MD&A. From the last statements, we also have $1.8m in short term certificates, leading to current assets of $20m vs total liabilities of $3.9m. We have been spending around $8m a year, so we could run another year without thinking about any more financing if we chose to. We would then still have very decent $6m in the bank, so we would also not be over the 'financing barrel' a good proportion of Ventures juniors are over already. We all know what happens when you are over the financing barrel. Yep, you get ------.
I would consider this to be a very healthy balance sheet and general state of affairs for an exploration/development stage company, with particular reference to the extremely poor general market conditions.
This makes me pretty relaxed here whilst we await for pilot plant results and i believe we will be very happy with the results of that process. I think that will be further validation of the quality of the asset we have here.
Then we have Grafoid closing out the $6.1m financing. That is serious money for this company and can only be seen as an incredibly positive development imo. FMS hold 40%, yes it will reduce with dilution, but i would be happy for Focus to increase it's investment in Grafoid in the future to maintain our share.
GLTA/DYOR