Chrometco warns of liquidity crunch after Covid-19 hit
The group says it should be able to meet its debt obligations based on current production and prices, but its going-concern status is at risk
14 December 2020 - 14:32
AltX-listed chrome miner Chrometco has warned that another production disruption or a drop in chrome prices could mean it will be unable to meet its obligations to lenders, with the group battling with a liquidity crunch after a hit from the Covid-19 pandemic.
The group’s current liabilities exceeded its current assets by R615.3m at the end of its half year to end-August, which compares unfavourably with its R127m market value on Monday...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.