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Gold/Mining/Energy : Battlefield Resources Corp (BFM) was Indomin (IRL) -- Ignore unavailable to you. Want to Upgrade?

To: baystock who wrote (556)	1/1/2000 12:26:00 PM
From: russwinter	Respond to of 584

According to a conversation I had with Chuck last summer, BFM battened down the hatches on everything after their Witwaterstrand deal come upglued. Seems like they've only lately been active again. Cash at 2nd qt. was 393K versus 217K at 3rd qt, or 176K burned. Working capital however showed only a 100K burn for the third quarter. Total working capital is still 707K, but most of it is probably not quick. They are no doubt pretty low at end of 4th quarter which is why I'm wondering why they didn't pick up a little cash upfront from PDG on Woodlark. Chuck really didn't answer that in our conversation. Could we surmise they have some lined up on another deal? Certainly an underwriting or rollback at these prices would be bad news.