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I say things on Twitter

12/12/17

Good to see Rye Patch Gold (RPM.v) confident it can get to commercial production in 1q18...

...as per its update yesterday, what with the way it was working cap negative to the tune of CAD$23m at the end of 3q17 (which means even worse now)...

...it owed $38.65m in current liabilities, most of that financial debt accruing interest of between 16% and 36% (yup, that says thirty-six percent, it's not a typo)...

...as well as the long-term lumps of course, and its cash position is dwindling rapidly again

By the way, my fave bit of yesterday's NR was when CEO Howald said after the 3,491 oz Au produced in November means (and we quote), "At this point mining operations now begin to contribute positive cash flows to the Company", which is one impressive piece of verbal gymnastics. It translates as "we fractured more cash in October and November and mining ops cash flow still don't cover corporate costs." Natch.

So let's take bets on the size and price of the next round of equity financing: I say they sell 100m units at 15c apiece for $15m and get that shares out count to 527m in one shot. Any counters?