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24/04/18
08:11
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Originally posted by goofy
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Anyway lots of negativity around and it seems like subs has been doing a lot of the heavy lifting supporting the companies worth. As he has tried to state over and over again, it’s pretty simple we made added $20 million to the bank on a three ship month from MtCattlin after all costs associated with three resources.
If you take into account the A$14.9m receivable from a shipment made in the december quarter, GXY only added A$5.1m to the bank account this quarter.
Important that GXY completes works to improve recoveries in a timely manner. As stated in the September quarterly report, works were meant to be complete during March quarter 2018 but this was pushed out to September quarter 2018. Obviously I see was badly needed this quarter.
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Perhaps there was a receivables balance at the end of March too?