Has it actually been stated anywhere other than BB presumption that the 1.2M we have is adequate to get us into production as I have seen nothing specific stating we have the required plant on site to do that, If we do not then what will the cost of the new equipment be?
I keep hearing we have no debt and a huge asset and that's great but we have been in that position for an awful long time and look were we are. We are certainly not ready to go into production IMHO but hopefully we are heading in the right direction now, but I don't expect it to happen quickly. We have not even seen the finalised DFS which was supposed to be finished October /November time.
I fully expect further dilution through the previously stated share reorganisation as it was put. Reorganisation is probably just a roundabout way of saying further dilution without the hysteria.
Until we actually see some detail of the write downs and where the millions went then we are still in the dark as to exact situation. As usual its the lack of factual detail that leaves us all in this position. To be fair though this does seem to be changing now under AB with the release of factual information.
If AB has already decided we need more funds and lets be honest he is one of a few in the know ( along with stuee of course) as to how bad the situation really is, then dilution it will be. We will of course have the right to vote but If we vote against such motions then we are going nowhere so really Muaddib has a point we don't really get to choose what we vote on and you can pretty much guarantee the questions we do vote on will be heavily loaded to push us in what ever direction the boss chooses.
as a given ....Vote on MW do we vote him off and leave ourselves without a CEO ! if we our stupid yes although I don`t at this point see what he does.( I am not a fan and believe he has protected himself by appointing himself as CEO although he may be much much more )
AB well you have gotta roll with it really
Consolidation ..its a biatch and I have never seen it go well but ultimately apart from panic it makes no material/financial difference
in light of the recent million perhaps a R/I is off the cards but if not ? would you vote against it ?
The bottom line is .........the BOD has to be comfortable to relist ,so you have to agree with the bod
Ok. Muaddib, I don't know what the voting options will be until I see the actual proposals from AB, including the details. Nobody does. By the sounds of it, any voting will be to do with a share reorganisation/consolidation, if that is even still on the agenda. It may well not be now we have secured this million pounds. Who knows? All I was saying earlier was, if we shareholders have to vote on something which could affect our shareholding status, whatever it is, then each of us should use our vote.
We don't have to agree with anything derisory. We've also just got a million pounds back. AB has done the right thing in my opinion, under the circumstances. The Company is afloat and we have enough cash to get us into production. That option is the only one we should be concerned with and it can now be fulfilled. Getting our house in order and detailing the write-down will also give us a clean, uncomplicated slate for any potential suitors who may be interested in a buyout. Zinc is becoming scarce as you are aware. We have a definite lifeline, with a lower cash burn rate, plus no immediate debt. Call me naive, but the picture is looking brighter than it was three months ago, in my opinion. If you think otherwise, then fair enough.
Sounds good to me. I personally feel AB has made an excellent start, got things out into the open, recovered a million quid and avoided any court dramas. We now need to see his strategy for going forward and I'm trusting that he can build on the good work he's done so far. Still cautiously optimistic.
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