BBX 0.00% 24.0¢ bbx minerals limited

Ann: Full Year Statutory Accounts, page-3

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  1. 3,482 Posts.
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    "BBX is in the process of applying for a trial mining licence at Tres Estados and Ema to mine up to 50,000 tonnes of ore at each tenement which is expected to generate positive cash flow for the company. "

    I find this so strange. It just doesn't add up with the current information on hand. All a bit back to front imo.

    Drilling by November. Bummer, I'm intrigued as to why a company would commit to risking share holder capital at such an early stage before even poking a hole in the ground.

    Let's be real, taking economies of scale into consideration, it's highly unlikely to generate any meaningful cash that will help in the LT to develop a sustainable project. Funds would be better utilised fast tracking to delineate this supposed 'world class deposit' and bring it to jorc standard so they can get finance to develop.

    I guess we'll have to wait a bit longer to see how the story unfolds.
 
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