Harvest Minerals Share Discussion Threads

[vlad the impaler] 21/9/2023 13:36

"The large number of professional fees being paid by the company are astronomical too"

Better known as real cash extraction vehicles

[vlad the impaler] 21/9/2023 13:34

ypymytyc21 Sep '23 - 13:22 - 4852 of 4858
0 1 0
The accounts provide a royalty figure of AU$36,546 which is made up of 2% of sales price to the Landholder and a further 2% CFEM payment.
That gives a sales figure AU$913,650 for 7,280 tonnes.
Or AU$125.50t (R$400t).

Really? well my math isn't that good, but ANM say different!


YP

.......


Or AU$125.50t (R$400t).😂

[vlad the impaler] 21/9/2023 13:33

Well it wouldn't go into most people's honesty jar

[source] 21/9/2023 13:32

Part of me suspects the now inexplicably long litany of gaffs and terrible management handling of what they profess is a "simple business" suggests that they are deploying a highly underhanded way to take private what is otherwise a good little business. Surely the NOMAD should be all over this and maintaining the integrity of their stock market vehicle here. The large number of professional fees being paid by the company are astronomical too for what should be gold standards of service but instead after almost every RNS mass confusion by shareholders and ongoing revisions of prior accounting & numbers. Is this a fraudulent company?

[vlad the impaler] 21/9/2023 13:28

What a fkn scam

[vlad the impaler] 21/9/2023 13:27

"In order to reduce the Company's cash burn rate, the Directors agreed to temporarily pause drawing their remuneration due from the Company during Q2 2023 until such point as the Company is in a better position to pay.

When in history, did that ever turn out well for investors?

[vlad the impaler] 21/9/2023 13:24

"Short-term visibility remains low"

...We are going bust so can't suggest anything positive for legal and accountability reasons. Medium to long term, we won't be around so that looks good Thanks for your money ...

[ypymytyc] 21/9/2023 13:22

The accounts provide a royalty figure of AU$36,546 which is made up of 2% of sales price to the Landholder and a further 2% CFEM payment.
That gives a sales figure AU$913,650 for 7,280 tonnes.
Or AU$125.50t (R$400t).

Really? well my math isn't that good, but ANM say different!


YP

[vlad the impaler] 21/9/2023 13:21

kreature - 03 Sep 2023 - 10:31:26 - 4803 of 4851
Could do with some clarity on whether or not this biz will continue past say Christmas

.....

It looks like they decided to clarify you're prior clarification

[vlad the impaler] 21/9/2023 13:20

Might as well have said going bust

[ypymytyc] 21/9/2023 13:08

'In order to reduce the Company's cash burn rate, the Directors agreed to temporarily pause drawing their remuneration due from the Company during Q2 2023 until such point as the Company is in a better position to pay.'

The accounts show directors fees increased for H1/2023.
So did they just make the agreement during Q2/2023 and may or may not have pressed pause since the end of Q2/2023?


YP

[tomboyb] 21/9/2023 13:03

If seller has cleared then no much now available at 1.4p -

[ypymytyc] 21/9/2023 12:56

It looks like they have made/set aside the R$1,000,000 of loan colateral (AU$306,732) as an 'investment'?

So that's R$4,000,000 over 2 years paid back at AU$635k/pa

YP

[kreature] 21/9/2023 12:34

There was 2.7m in cash in Dec 2022. Six months later in June that’s down to 400k, and that’s after blowing the loan on machinery? So, how can there be any money left at this point ?

Oh I suppose some of the customers might have paid? How likely is that tho?

[kreature] 21/9/2023 12:21

Only problem may be that there’s no money left at all ?
Even the money they borrowed in April appears to have been blown on equipment and machinery

I’m surprised that the bank loan wasn’t secured against the new machinery and equipment ? Wonder what the new machinery was?

[tomboyb] 21/9/2023 11:44

Not implying it will go back there but I remember buying a few at 2.8p and selling at 3.5p -

Subsequently it smashed 18 p -

[tomboyb] 21/9/2023 11:42

Lets see how low this goes -

1.35p -

reached 18p? -

[kreature] 21/9/2023 11:34

The positives:

very optimistic bank

[kreature] 21/9/2023 11:08

Hopefully someone will highlight the positives, if there are any ?

[kreature] 21/9/2023 11:02

I don’t understand, why would they be buying all that machinery in March 2023+when there was already a drop in demand for the dust ?

[kreature] 21/9/2023 10:53

Thanks yp, blimey
‘ In March 2023, the Group secured a further $R5,000,000 loan with BDMG for purchase of equipment and machinery. The loan is repayable over a two year period with repayments commencing in April 2024 and secured against $R1,000,000 in cash as collateral. As at 30 June 2023, the Group recorded $1,806,823 (31 December 2022: $245,677) of secured loans as a payable.’

5m secured against 1m ? Sounds like a good deal

[kreature] 21/9/2023 10:46

Negatives….
Loss from continued operations 1.6m

Positives…..
Gain on sale of motor vehicle 15k