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Frol:
The bottom line is that the funding of the DFS is relatively a trivial amount against the potentially huge profits development of the resource should produce. It would be a lunatic move to fail to get on with it asap & fund it pronto. Which is already precisely what George is doing as he has already announced the initial first step is in hand to be completed by the end of April - vis the establishment of a base camp, plus Bars have been instructed to commence the DFS forthwith..
What more do you want ? Blood !
And it is quite correct for George to seek funding wherever good, appropriate financing is available before considering using his own personal funds. But should he fail to obtain financing elsewhere ( very, very unlikely) he would be bonkers not to fund it himself because that would be an exceedingly profitable move for him.
However you think about it, the DFS will take place and be completed rapidly & on time without any problem finding the money for it.
All this nonsense hysteria about the share price dropping because of a lack of funding for the DFS is complete garbage - presumably engineered by silly little juvenile day traders. Similarly to the way they engineered this myth that George is an incompetent CEO on account of the project being delayed owing to the corruption & incompetence of the Zimbabwe Government.
MW 083 your correct in the fact GR could fund it himself , with a personal net worth of around £40 million , but would he?? maybe but not before exhausting all other options though , I think .
Maybe:
https://en.wikipedia.org/wiki/Mining_feasibility_study#Detailed_feasibility
Looking at those figures, I guess that if the cost of the project will be $500m then that must be where he gets his $5m, could be more, could be less but at this stage we don't rightly know.
Wolf
Answer is :
A - I don't have a clue why GR would say it cost $5 million unless he or someone else can be bothered to explain exactly why it would cost $5 million.
B - I don't actually know what the cost might be without some idea of the initial development project cost - all of which information is not readily available to me & presumably other shareholders.
But I rather thought that as $5 million DFS cost indicates a half billion dollar development cost, that seem did seem large. It might be helpful if GR provided some useful information. That, after all, is an intrinsic part of the good management of any company.
Mugwump, why would GR say the cost of DFS would be 5 million, if DFS could be achieved for 2 million?
Wolf
Why do you think the Definitive Feasibility Study would cost as much as $5 million. That would imply a project cost of $500 million or half a billion dollars. I would have thought a DFS would only cost no more than about $2 million & that is peanuts in terms of finding that amount of cash which would then lead to development and a vastly increased share price if the company was managed well.
George Roach himself could fund it if he couldn't raise the money from anywhere else. But there are numerous sources of funding just waiting to fall over themselves to lend to enable the development of such a hugely valuable mineral resource; and to lend again after the DFS the even bigger sums needed to build the mine to dig the stuff up & sell it for what will be huge profits.
It's a no-brainer for any competent financier. See the link below about costs of Feasibility Studies.
https://www.google.com/search?client=safari&rls=en&q=how+much+does+a+mining+feasability+study+cost&ie=UTF-8&oe=UTF-8
People are unsure of george. I get it. On the other he is smart. Zulu & lithium reminds me of uranium and uramin inc. They effectively paid between 5 and 11 cent per pound of uranium. Sold it when uranium was $135 a pound.
The best bit was they never mined it... just trading paper.
Now when it comes the prem and George I just see history repeating itself.
So the sp will recover
Ok, understood.
By saying “hold for gold” do you see the Sp recovering and reaching the highs of earlier this year.
Yes. Most likely at some point soon we will get notice of an agm. In which will be information regarding headroom (increasing number of shares in issue). This will cause the sp to drop to the placing price (if announced).
George needs money for dfs study which is estimated at $5 million.
Holders will suffer while traders will open a short position.
Can you explain by “ it’s going to get bloody “ . Are we looking at a placing?
If you don't like the sight of blood.
Look away this week.
Going to be bloody.
Hold for gold.
Buy after the drop.
And well let's say in this weather shorts are very popular
Good luck all