Advertisement
Advertisement

Outlook
In addition to the improved financial position that a change to the tax and power cost base would bring to the Company, an upgrade at Golden Quarry Mine at a cost of US$1 250 000 is currently being planned and will only be implemented if and when the required capital becomes available. These upgrades are designed to increase the output of the mine by up to 40% and, once completed, would be expected to allow Golden Quarry, as well as the Company, to reach and sustain profitable operations.

Due to serious liquidity problems and the absence of investor appetite for Zimbabwe, one of the most viable ways to raise capital to both stabilise the Company's balance sheet and make incremental positive changes to the Company's operations, is through the sale of non-productive assets. This capital raising strategy is being actively pursued. Falcon Gold will continue to engage with potential investors for possible joint ventures or partnership to restart Dalny Mine...

FY 2014 Financial results

 
Top