It will be interesting to see whether the CR will be solely used...

It will be interesting to see whether the CR will be solely used for operating capital or will a portion be used to retire some of Bill's loan.

IMO, the CR will likely be at 12c which will take the Mkt cap down to $44 mil.
Given that Bill has retired as a director, he may be positioned to take the company private,
that is if its prospects are good enough. A conversion of the $11 mil debt to equity at the CR
sp would yield 25% of the company; a good platform from which to launch a takeover
bid. Of course there is major Chinese & European shareholders who will likely also want a piece of the action.

It will certainly be interesting to see what pans out over the next 6 months.

I am quite surprised that the company has not already opened up another mine to de-risk the whole operation.

All, IMO, of course.
mm