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1) WOW, amazing, Net AP and Accrued Liabilities is now down to ONLY $5.6M (net of AR and $350K estimate outstanding payment to employee subsequent to quarter end).
$14.2M AP and Accr. Liab. - $8.3M Accts Recv. - $350M employee payment
= $5.6M
This net item becomes virtually a non-issue once the company closes the current $4.0M financing. That $4.0M coupled with current cash should be able to easily cover off the remaining net AP and Accr. Liab balance, to the point where AP and Accr. is exactly equal to funds we should collect from AR.
THAT IS SIMPLY AMAZING RELATIVE TO WHERE WE WERE.
2) The amount owing to Tamerlane is now down to only $153K (virtually nothing), down by $396K from last quarter.
3) As we know, the $3.5M Quebec environmental bond has been fully paid subsequent to quarter end. It will be removed from the Y/E financial statement.
4) They reduced Other LT debt (leased equipment liabilities) by about $100K.
5) They still had $714K in cash at quarter end to pay down some more liabilities.
6) They are getting good cash flow from SJ to cover Corp costs plus cash left over to pay off liabilities. And, we can't forget, the gold price has increased about $200 per ounce since Q3 so more cash is likely coming available in Q4.
7) It looks like they sold the Poderosa shares. This is an excellent move. No point maintaining shares in other companies when we can use the money to clean up our balance sheet.
Wow, the company really made great strides this quarter in cleaning up the balance sheet. Impressive!
2 comments:
1) WOW, amazing, Net AP and Accrued Liabilities is now down to ONLY $5.6M (net of AR and $350K estimate outstanding payment to employee subsequent to quarter end).
$14.2M AP and Accr. Liab. - $8.3M Accts Recv. - $350M employee payment
= $5.6M
This net item becomes virtually a non-issue once the company closes the current $4.0M financing. That $4.0M coupled with current cash should be able to easily cover off the remaining net AP and Accr. Liab balance, to the point where AP and Accr. is exactly equal to funds we should collect from AR.
THAT IS SIMPLY AMAZING RELATIVE TO WHERE WE WERE.
2) The amount owing to Tamerlane is now down to only $153K (virtually nothing), down by $396K from last quarter.
3) As we know, the $3.5M Quebec environmental bond has been fully paid subsequent to quarter end. It will be removed from the Y/E financial statement.
4) They reduced Other LT debt (leased equipment liabilities) by about $100K.
5) They still had $714K in cash at quarter end to pay down some more liabilities.
6) They are getting good cash flow from SJ to cover Corp costs plus cash left over to pay off liabilities. And, we can't forget, the gold price has increased about $200 per ounce since Q3 so more cash is likely coming available in Q4.
7) It looks like they sold the Poderosa shares. This is an excellent move. No point maintaining shares in other companies when we can use the money to clean up our balance sheet.
Wow, the company really made great strides this quarter in cleaning up the balance sheet. Impressive!
The comment counter showed "0" comments even though I had posted one. Thought I'd do a test to see if it counts this comment.
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