Doesn't it feels like sellers are in anticipation for not only Cap Raise on the 15% but additional 10%. Very disappointing with the progress after they were given a cash generation third party ore processing opportunity.
Lots of talk about all these satellite ore bodies but most are just exploratory mining hoping to discover the geology before full scale mining. I wonder if the cause is the nuggety ores being difficult to extrapolate on the economic value of the bodies?
Good management can only go so far if what they have is just low grade ores. I am skeptical about their self glowing report of achievement/project viability. The absence of maintaining the schedule of open pit to underground mining is reflected by the SP. In the absence of a gold premium price but bleeding cash burn, the last thing I expect is continual delay to the ipo objective now in the third year of existence. Timing is the issue and what are they not telling us?
ORS Price at posting:
6.3¢ Sentiment: None Disclosure: Held
