OTCPK:MAUXF - Post by User
Post by
zeus55on Aug 15, 2013 10:29pm
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Post# 21675066
Full report on SEDAR
Full report on SEDAR
It looks like their cash position dropped from $30.8 mill to $28 from Q1 to Q2, after taking out the proceeds of the loan from the Q2 numbers, and total assets dropped by about $12.5 million.
But accounts payable also dropped, by about $6 mill, as the overlift payable dropped from $37.9 mill to $15 mill at the end of Q2.
So it looks like their asset value dropped by about $6.5 million in Q2, but that was due to them paying down almost $23 million of overlift. So not so bad.
They still had $15 million of overlift to pay at the end of Q2, but I would imagine that will be gone by the end of Q3, and the cash drain from that will be over.
I am not an accountant, so maybe those with more expertise can polish my numbers a bit.