The Company disclosed in its Quarterly Activities and Cashflow Report (ASX Announcement,
Kasbah notes that the recent outbreak of the COVID-19 virus and potential pandemic has further exacerbated global macro-economic conditions and significantly impacting commodity prices, including tin. The present scenario is expected to persist in the medium term which will have an impact on the ability for Kasbah to successfully secure project funding, strategic partnerships or find corporate opportunities for the business in the short to medium term. This has been compounded by the ongoing delays in the delivery of a Japanese ECA backed finance package being driven by the Company's joint venture partners in the
In light of the deterioration in market conditions, the Company is considering all options to further reduce costs whilst keeping our projects in good standing and ensure that everything possible is done so that the Company can navigate through an extended downturn during 2020. Kasbah will engage with shareholders and other stakeholders to discuss options to reduce costs and also increase liquidity so that the Company will have sufficient funds over the next 12 - 18 months to navigate the challenging conditions.
Notwithstanding the current situation, the company recognizes that the
Commenting on recent events, Executive Chairman, Mr
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