3500, thye didn't need to CR over the last 4 years, because they conned 30 mil out of CLIFFS, which they have just about exhausted.
At the time of the CLIFFS deal they had circa 38-39 mil cash on hand and were "chasing" IO and manganese, when they turned up zero on that front, then started chasing the likes Au in Buko Fasino. (spending the funds on projects completely unrelated to the CLIFFS model). CLIFFS realised the bad investment and exited quietly, dissolving the stock in lieu of ahmmm, the Stanley ?Mg? project. Don't fool yourself, the Peru JV is just CLIFFS throwing AQD a bone in sympathy.
CLIFFS had no need for AQD whatsoever, I think they realised this in the end .
What annoyed me the most over the years about these guys is how they would desribe projects as "ABC Diamond project", but there would be no diamonds, or "XYZ Mnaganese project", but there would be no Mg, "DEF Cu-Ni project, no Cu-Ni. And so on, for years on end.
These guys should have hung up the boots years ago, would have saved everyone a lot of money.
AQD Price at posting:
5.2¢ Sentiment: Sell Disclosure: Not Held
