RE: Just what I’m thinking!22 Jul 2019 11:04
Hi Fred
You say that stage 1 and 2 dilutions were disappointing, but do you think that if thought so it's because of unrealistic expectations? A lot of attention when it comes to dilution fails to focus on how much greater it could have been considering the amount we are now raising through RCF. I know investors are hacked off at dilution but going back three years or so how else did they see the finance raising of a circa $5bn mine.
As for the share price reaction to what seems like imminent good news on financing: who knows? Many, me included, thought it would leap and, more crucially remain high, on planning approval. Then there was stage one funding, admission to FTSE after leaving AIM. Remember all the talk then about II jumping on board. Then stage 2 which obviously is still being played out. I believe in that promised J-Curve but in light of passed expectations I think I'll keep my excitement under control and keep putting those toilets and boilers in until my shares allow me to do otherwise.
Myo asked over the weekend whether CF needed some kind of proof to back up statements regarding tunnelling and shaft sinking rates possibly increasing rapidly. In my opinion Myo I don't think he does. I see him having said it in such a way that it's just a hopeful scenario with no promises or expectations.
Something which does puzzle me is this bond rating being secured. Secured on what? Of what use would a few holes in the ground and an unfinished tunnel be to anyone should we not succeed?