PMA precious metals australia limited

Response to the ASX

  1. 6,931 Posts.
    BY FACSIMILE: 9221 2020
    ATTENTION: CARISTINE PANETTA
    Dear Sir
    REPORTING REQUZREMENTS
    In response to your letter of request dated 18 June 2002. we advise as follows:
    Working Capital Position as at 31 May 2002
    Current Assets
    Cash at Bank
    Receivables
    Current Liabilities
    Payables
    218,437
    49.179
    267.6 16
    m
    Working Capital at 31 May 2002 Um.2
    In addition to the above, we confirm th t the Company Is in receipt of an annual
    royalty income of $500,OOO per annum, payable quarterly, with the next instalment of
    $125,000 due in July 2002 and that the current overhead expenses of the company
    continue at the rate of $35,000 per month including legal costs.
    Yours faithfully
    Angus Pilrner
    Company Sec-
    Precious Metals Ausrmlla
    Level 2
    44 Ord Street
    WESTPERTH WA 6005

    It seems they can keep their head above water until the Va price rises.

    Regars

    Desmond
 
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