Post by
shiftyone on Nov 02, 2023 7:52pm
financials are out
i just glanced but it looks like they have just less than 7 million left working capital as of Sept 30. So I'm guessing that with all the drilling that has been happening, they are down to about 5 million working capital.
The net loss for last quarter was 5.5 million.
Thankfully they got the 3 million from the sale of pointe rousse.
So they have about 5 million working capital. But they have to maintain a mininum of 2 million in cash to meet the requirements of the nebari credit facility. because interest rates went up, that is costing 5 million a year in interest alone on that financing.
The corporate administration costs are up about 10% year over year.
So they have about 3 months worth of money left is what I figure. That is why the share price is tanking. Because... what are they going to do.... raise money at .10 cents?
I hope that they have a great drill results from the current program if they can finish it.
They have about $5 million, but can only spend 3 million of it.
Good thing that they got that Nebari financing for $15 million this year. And raised $7 million in private placements, and 3 million from the sale of pointe rousse. $25 million since the beginning of the year.
$3 million to spend doesn't last long.
I feel sorry for shareholders of mae when the Signal shares become freetrading. Because unless they get a major hit, they are going to have to sell that million dollars in shares.
Comment by
nozzpack on Nov 03, 2023 9:15am
Much the same as my cash flow analyses. Over $5 m per year in Admin expenses is simply incredible and $5 million in interest expenses WOW. It cannot end well and the ending is within sight. But, thank you for the gift of Point Rousse. And good luck to all here . You will need it.
Comment by
5er on Nov 03, 2023 9:57am
This post has been removed in accordance with Community Policy
Comment by
DoumDiDoum on Nov 03, 2023 11:17am
Hey Shifty! Your buddy is back... a coincidence?? Your intentions are clear now Nozzpack: you were bashing SGNL for the account of Maritimes? You had what you wanted, I guess... of perhaps not. You were silent for a long time and seeing you back here, makes me go hhmmmm...