RE:Quarter results....Ah Fk!
Results have always been bad. But now, it seems there's barely any hope left. Frig man.
Our efforts continue to monetize the Company's core assets for the benefit of all its stakeholders. Market conditions in the industry coupled with our on-going legal issues in India and Bangladesh make this process challenging.
The Company's liquidity situation is a critical concern. As a result, the Company has recently requested consent of its senior lenders to access a portion of the funds in a reserve account to provide additional liquidity.
No assurance can be made that these efforts will provide a solution on a timely basis or at all.
We are committed to doing our best for the benefit of all stakeholders and while we remain hopeful, we acknowledge that much work has to be done.
William Hornaday - Chief Executive Officer, Niko Resources Ltd.