Thanks Butcher, forgot the exact story as i have only just...

Thanks Butcher, forgot the exact story as i have only just re-entered a few weeks ago.

It is an interesting conundrum this stock. If you believe that they will finally get it right, then this stock looks cheap. Let's see if they can secure the loan facility next week first of all. Then come June we'll be at the 20k tonnes pa. Using your margin of $700 (which was years ago - has magnesium price increased?) times 20000k tonnes, equals $14m. This will be plenty of money for stage 2 plus we may even get that ridiculous cap raising done at 35c for extra $4.5m.

One thing you all would realise that companies seldom run to schedule. There are very few that do. In mining companies, it is not uncommon to be delayed by a year or two. This is kind of what we have got here and these can often prove to be real bargains if you pick one that gets themselves back on track. The question here is, do you give it one more crack to see if they can do it by June or do you say it is all too hard and walk away. I don't know the answer as we get told squat and I don't know if they can do it. I am going to take their word for it that things were out of their control (going back to my sundance example) but I do it reluctantly. Only once we get phase 1 up and going will they talk about phase 2. No point until then. Phase 1 is a nice little earner still.