Hi suhel.The only profitable project they had was Posse which...

Hi suhel.

The only profitable project they had was Posse which was a Iron Ore mine in Brazil. That was making a decent amount of money before the fall of the IO price, then after, the mine was barely profitable. Posse has since been sold and they are currently trying to retrieve the purchase price.  

Just a recap, Juruena's scoping study was due in 2015. Bororema was supposed to be in production by now according in early timetables. These targets aren't even close to the mark and it appears the chances of these targets being meet into the future are becoming more remote by the day. Many in the inner circle will say that's because we just couldn't get a deal done whether that's the World bank, Stratex yadda yadda yadda. At the end of the day, it seems we are Capital raising these days almost purely to pay for Administrative costs which for a company with it's current market capitalisation is outrageously high -- although, credit to Marcus whom has tried to get it down in recent times. All we seem to be doing is being over diluted to pay for wages with little progress. Talk is cheap, actions will always speak louder than words.

Incidentally, why is a company of this size trying to progress so many projects at once? It's nuts! Choose the one you wish to develop and flog the rest off! CAS is a small cap not a mid Cap, unless there's a change of thinking at the top, CAS will soon be a micro cap.