would you not consider selling your shares , if i had the same concerns i personly would have sold , thankfully i am happy to hold i plan on buying more with the recent drilling results and the j v with oz and the her media reports atb
will look back next year and think we were just feeling our way to establishing our best route to production and financial self sufficiency. We have a deal to acquire a going concern for £8.5m. ie if we borrow £8.5m and hand it over tomorrow we would be the owners of a producing mine.......all be it a technical mess. So to get the Mine producing a sustainable profit efficiently long term there is possibly a capex of some £15 to £20m required. We may not be able to borrow until we have established what ore we have. (grade) and where it is and then create feasibility and EIA and 5 year Mine plan etc. Long road without money.
What I don't want to see happen is to have this kicked into touch for 6 years whilst someone else runs the whole thing giving us the right to a measly 10% of the profit they then choose to declare in 8 years time leaving us with no cash in the mean time.
We have many exposures to the ore bodies so it should just be a case of taking samples and analysing, filling in the gaps and points of interest with some drilling, map out the area to pick out the remaining eyes and then produce a mining plan beginning with mining the eyes for fast bank balance which can then finance everything.
*I see GS has 5M shares now ......better !
If these grades are backed up with assay results I think this will make a difference to sp though slight with poor financing and consequent dilution.
As always just more very good stuff in the ground but no way ( apparently ) for us to get it to market. I am sure there are lots of others that would like us to give it to them for them to get it to market.!!
this fails to deliver in SP reaction to a good RNS. The simple fact is we can keep on producing good news in product offering but until there is a clear financing support package this will continue to flutter on SP value. It is a really good company with proven assets but they need to seriously concentrate on the funding to support future production and until that happens no amount of good news will make this share climb to the value it deserves
It's still the big question. Lots of companies have major assets in the ground but fail on the finance front (NVTA, SNRP at the moment....). Not that I think for a single second that HER will have a problem. Too many friends in high places :)
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