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Ann: Corporate Update and Board Changes, page-5

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Lion2009

938 Posts.

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04/05/18

10:41

Post #: 32880856
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Originally posted by Aussie Joe ↑

What sort of announcement hummms? This time last year, the company was confidently chanting that the Chinese banks were hot to trot and funds would be advanced by Christmas. I assume the banks are not going ahead (not a surprise to me) because their normal process is that they don't advise the borrower when they have been unsuccessful- they just never approve the proposal.

Is that where this is at now or are you expecting an announcement that loans have been approved? (I don't hold but live in the district and this is a genuine question, although I've long believed that the project is unbankable.)

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The project has been un-bankable since day one.

As I have said before and say it again. This is a low grade magnetite deposit that will be lucky to ship 15mtpa. The high CAPEX and operating & maintenance costs make this a NO GO...

IRD Price at posting: 14.5¢ Sentiment: None Disclosure: Not Held
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Ann: Corporate Update and Board Changes, page-5

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Ann: Corporate Update and Board Changes, page-5

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