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Aussie miner Alliance Mineral placing A$19.6m of shares to HK-listed Burwill

Auditor warns that Alliance's ability to operate as a going concern is uncertain if it is unable to raise more funds

Published Thu, Oct 5, 2017 · 09:50 PM

Singapore

AUSTRALIAN mining firm Alliance Mineral Assets Limited is placing A$19.575 million (S$20.8 million) of shares to Hong Kong-listed Burwill Commodity as its auditor flagged uncertainty about its ability to operate as a going concern if it is unable to raise more funds.

The auditor, Ernst & Young, noted that the firm incurred a loss after tax of US$4.8 million for the past financial year, and experienced net cash outflows from operating activities of US$1.91 million.

It had cash and restricted cash of US$9.0…

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