TB, your are so stubborn, come on if you bought in earlier in the week or last week, you are laughing all the way to the bank. Smashed 2.90 and you are lifting the bar to say it is capped at 3.10. When I saw the closing price, I laugh so hard, I pissed myself.
While at POS, it was a good day, but still a lost for me and yes, they cant even get an operation up and running while they have 8 years to prepare for hthis day.
Did you know how long it Sirius to obtain the mining lease after signing Mining Access Agreement with traditional owners? 9 days.
How long it took from DFS to obtain a signed Mining Access Agreement with traditional owners of the mining lease? Less then a month.
Where is pos since the announcement of offtake on the 02/10/2014 and a promise of delivery of ore from Feb? yeap still awaiting for approval. Firstly, they announced in Feb 2014 that negotiations which could lead to an ore tolling and concentrate purchase agreement. If finalised the agreement would allow Poseidon to deliver 350,000 - 700,000 tonnes of ore per annum for an initial period of up to 2 years. Surely there is a gut feel that the deal will be a signed deal and should have get the ball rolling to obtain aproval for tolling with the government while the lawyers drawing up the paper work, I am sure that paperwork between POS, some lawyers office and back to BPH back to lawyers, back to POS took some time. Even at that stage should have all the work line up and get it rolling, but hey, what do i know, they didn't. How can a simple process takes more then 9 days is beyond me.
Look, sunshine, at some stage between now and toll to NW, there will be an announcement for CR as by the end of this qtr, the cash run is great and guess what, a geo will cost money, how muck will set it cost for 3 months? then + this and then + that, before you know it the kitty will be empty? You only have 15m left in the bank. the projection for this qtr spend is 4 million, who are they going to kid? does the start up cost money? oh, yes, i forgot, the directors is sitting on their hands waiting to complete one task at a time, nothing will happen in this qtr is what the cash flow projection is telling me.
Where is the drilling result from November's announce? damn it, still waiting.
What chance Sir will announce their drilling result before pos?
On 1 October 2014, the Company issued 2,120,666 Fully Paid Ordinary Shares to Jefferies LLC having elected to settle interest payable on the US$35 million Convertible Notes for the September quarter in shares. During that time POS shares has been trading between 10c - 24c, how many shares POS would have to issued to Jefferies for payment of interest on the 01/01/2015? would be around 3.6m? another dilution to the shareholder.Then there is another issue in April, another one in jury and keep going. How much is that USD 35mil worth now in AUD? I would like to see Jefferies to call in the loan repayment rather then conversion of shares at maturity. ouch. Did you take a look at 3.1 on the financial statement? so who has been saying POS dont have debt, try again.
As to your calculation of AICC for Windarra or LJ or Nova, lets just stick with the numbers provided by the respective company, after all they paid for people who is train to prepare those studies, and I yes, people will make mistake, but hey what do i know, i dont have a uni degree to 2nd guess them.
Petrol price at eastern suburb of NSW was at 1.19 today, whilst the oil on the world market have half in the pass few months, you will never see that in the petrol browser. Did you missed the 7% jump in oil price last night?
Once again interest rate has dropped and the borrowing cost for sir just become cheaper. this is the time to borrow for worth while project.
Lets crack 3.10 tomorrow, thin volume between 2.95 to 3.05.
SIR Price at posting:
$2.94 Sentiment: Buy Disclosure: Held