3 musketeers of STGO castle3 musketeers talking about everything fine at STGO castle...Again "positive" cash. The castle attacked from everyside. And 3 musketeers drunk & happy for their dream life. It's just cannot "positive" unless STGO had so much debts, borrowing loans to support normal mining ops.
So what's eating EBITDA naturally in terms of accounting? 1. Finance costs raised from debentures fair value revaluation..2. Forex realized loss...Both representing financial mismanagement. What if they just choose USD as a functional curr. once BoM paying them in USD for gold sales and use SWAP to avoid forex fluctuation risk? Most of STGO purchasing in USD or RMB, i guess...... In which currency they'll pay for DRA? MNT?
Very short history can't put "at a glance" in their web, true....but why always lying "we have tons of dollars in our safe"..in YE2020, i guess no FCF generated from gold sales & -ve 5mio net cash. Of course they borrowed from someone to fill that -ve gap, bank account cannot be below zero.
Just dislike for that "positive everyday". Who preparing financials & informing management? Again miscommuncation or management still discovering own business they conducting? "X files" - Truth is out there....