There must be blame apportioned to the new directors that have come across from Exterra. It is Exterra that did the sums on SF, the sorter work and the general returns on the mine.
I am looking forward to the quarterly to find out if any of the larger holders on the register have been going for the door.
Here is a thought I would like to throw out there and get some comments on.
If they have run out of cash and at the same time are running out of time with the repayment of the $3m loan then they would need to to a cap raise or find finance.
If it were to get a cap raise then they would try and get it done at the best share price. Now, you would imagine, that if the news in next week's quarterly is not good and is likely to drive the share price down then they would have done the cap raise prior to the report.
Which makes me think that the report either will detail how they will be over coming the lack of cash and the $3m loan or it will have something else in there that will be good enough to give the SP a lift so they can get more money without too much dilution.
The other side of the coin is that the don't give a stuff and will raise cash when it suits them.....but I can't see this because A Cooke has quite a significant shareholding and will get burnt along with the rest of us.
Maybe there has been a deal done with the lenders to extend the loan up to the sale of BS???
I just hope they don't just give BS away so that they can settle the loan ASAP.
Thoughts anyone?
AWV Price at posting:
3.5¢ Sentiment: None Disclosure: Held
