Lets run a couple scenarios (its not like we don't have the time):
Option 1 (preferred): Current Financiers step up and approve finance.
We begin construction, seek out rail head finance (as promised) and begin construction there also. Within 12-18months we are producing coal and supplying domestic and international markets . SP re-rates (depending on coal price) and we have a 20+yr minelife.
Option 2: Finance is not achieved with current proposed group.
We go back to drawing board. Try to seek out alternate funders....again. Money runs out.
This leads to
Option 2a; Noble has to continue funding the board while seeking alt funders. We go further in debt or give larger piece of company.
or
Option 2b: The board goes to the market for a CR for the company to survive
or
Option 2c: The Board gives up and places the assets (as they are) up for sale and/or switches lights off and closes the door. SH'er's get zilch or 0.000001c of their orig investment.
Geez....I'm depressing myself here. After 10 or so years I've given up on this project/mine/share many times. They say it darkest before the dawn....but its even darker inside a big hole with a lid covering the hole. Even dawn won't let any light in! Will wait patiently for the next update...(cos what the f else can we do!)
RES Price at posting:
4.6¢ Sentiment: None Disclosure: Held