NGC MORNING BRIEF December 31 2023 accounts payable ratio was approximately 5.9 and as of March 31 2024 accounts payable ratio was approximately 7.9.
As this ratio increases it simply means the company is taking longer to pay their bills. This trend does not surprise me.
What does surprise me is the company is advertising for a health and safety officer for LDI mine. I suspect that is required by Quebec law but I am not sure.
I imagine this ratio will be worse when the June 30 statements are released at the end of August.
It is past time to make cuts to expenses. MEANINGFUL CUTS.
Suggest officers salaries be reduced by 30% not postponed but REDUCED immediately until end of 2023 fiscal year. Then reevaluated. BOD fees reduced by 30%.
Then every expense should be questioned as follows,
DO WE NEED TO SPEND THIS MONEY TO REMAIN IN BUSINESS FOR THE NEXT 30 DAYS?
If the answer is no do not spend the money.
Staff need to be laid off!!!!! Same question applies do we need this position to remain in business.
I would start with the VP of Communication and cut cut cut.