Marathon Resources’ cash reserves seems to have become very light on… and puts in doubt their survival IMO. “Marathon Resources Ltd received no cash from customers in the September 2009 quarter. Net operating cash flow was negative $1.3 million. Total operating and investing cash flow was negative $1.3 million. Cash decreased by $1.3 million to $2.5 million.”
AS you probably know they are in an unenviable political position with a wide range of greenies and even Liberal ex ministers who do not want to see them mine the Mt Gee deposit that is contained within the Arkaroola Pastoral Lease which has been declared a sanctuary under the South Australian National Parks and Wildlife Act 1972. They seem to be rapidly burning through their cash perhaps due to their having to clean up the debris left behind last year’s exploration where tailings were dumped in shallow trenches etc….
Interestingly MTN’s uranium deposit is said to be one of Australia’s richest….
