RE:RE:financial Liquidity is still the big problem,.If AISC come down to the projected $1000 all should be good.
“The presentation mentions LSG has $28 million in cash and bullion but does not indicate how this compares to the existing current payables and current short term debt obligations, which in all likelihood are greater than the mentioned $28 million. The non-disclosure of the current working capital position seems unusual and concerning in the view of LSG's financial circumstances, especially with the recent drop in the price of Au.”
Read more at
https://www.stockhouse.com/companies/bullboard/t.lsg/lake-shore-gold-corp?postid=21782567#RVZIUWzgDJ30GYI7.99
Debt as of 30 June $136.2M
- Loan Note $27M – 21 monthly cash payments = 945 oz/mo at market
- Standby $35M – 9.75% due 01 Jan 15
- Convertibles $103M – 6.25% semi-annual due 30 Sep 17
Report yesterday was that the pog would be safe haven for the gov’t shutdown and debt limit?
Can’t win in this sector for losing, just too bad the fix is in for the Gold Market these days. Criminal Acts, yes but not in the eyese of regulators like CFTC.
If there’s long term trouble in fiat currency, ie., QE forever, Gold will be controlled and manipulated down. I would even go so far to say, that history may repeat, meaning Gold Confiscation again just like the “Gold Reserve Act of 1934” to protect the devaluing currency and bankrupt financial system when the FED loses control of financial markets.
Cheers, Mark