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Friday, October 26, 2018 11:34:44 AM
Niocorp had $73,000 on hand and accounts payable of $1.6MM on 8/31. Throw in the private placement and take out the ~$500k burn per month and they are likely back around $500k in net cash today.
Clean Teq had $95MM USD on hand as of 9/30 and likely has about $5MM in revolving liabilities.
That said, neither of these companies are going bankrupt any time soon. If Niocorp doesn't get financed, they close up and sell the rights. MS is the only one that can really force them into bankruptcy via his ~$1.5MM in loans. There are things MS does that I don't agree with, but a move like that is not even a bit realistic.
Clean Teq on the other hand would continue as a going concern with their water business if Sunrise was unable to achieve financing.
This goes out the window if either gets financing and has significant loans. At that point you have to ask yourself about the technical viability of the mines and process and the long term outlooks for the minerals the companies are mining for, along with management's ability to produce as stated, or find suitable replacements when production is commenced.
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