Member Info for addicknt

He may well consider the ASX to be the natural home, but that is not the same as saying we'll list there. But to reiterate, that really isn't the point. DV is flat-out trying to deal with the curve ball the government has delivered, the consequences of which are serious.

The absolute priority for the company is to achieve the milestones to ensure we can drawdown the Franco monies and ASX should remain a distant aspiration...if we get that far as an independent company.

Fort, he specifically says he would 'explore the merits' of ASX, that is not the same thing as it forming part of his strategy.

But that's not really my point. I was referring to the fact we don't have the cash to do so at the moment and there are far more important issues at stake.

We are in no position to list on ASX at the moment and I don't imagine it's even on the agenda.

The woman's original post is exactly the sort of thing which makes me loathe Linkedin. Ar5e licking on a monumental scale. If I read another post from someone saying how 'passionate' they are about their job as Head of Pencil Sharpening...!

FTJNY, the chairman identified the long term inability to make decisions as one of the significant explanations as to why so many mistakes have occurred. He intends to rectify this.

Pbow, that's a reasonable argument, but on balance I feel the reason not to utilize the AIPA outweighs it.

The one thing we don't know is how the various discussions with the government went. Hopefully we'll get some idea next week.

Pbow, arbitration would be an appalling idea, even if we were justified in taking action.

Cash was $18m at the end of March. Assuming similar monthly opex to the previous 3 months, our current cash balance will be circa 13m at the end of this quarter.

CMG, I guess you can see why this issue is somewhat critical?

CMG, I think the larger figure was based upon all of our current concessions, which explains why we'll be giving up the majority of them.

CMG, I'm talking about the concessions we've done nothing with and will drop.

FTJNY, the levy will create a situation which I'm not sure the government will welcome.

The only companies which will be able to afford the tax are the majors, but their recent record on exploration is poor. They need the small explorers to provide their pipeline. What happens if the juniors bugger off and desert the country as being a basket case? Will the majors pick up the concessions, or will they remain unexplored?

Incidentally, does anyone know if there are any penalties attached to walking away from the concessions? Or can we simply ring the Ministry on Monday and tell them they can have the lot back?

FTJNY, yes, it is. It's not significant, but I wonder what's behind it?

Pbow, this should be doable, but it will disrupt our cash forecasting.

As for the rest of our fabled concessions, they will go - or most of them will. No question. We're going to be looking at a much more focussed company, which is no bad thing, but I guess we can kiss goodbye to ExCo.

FTJNY, those trades do not appear on the Stock Exchange trades page.

RT, one thing's for sure, if we had tried to raise money from the market at that time, we wouldn't have been able to do it at a 45% premium.

It's my view that SC lost his job because he had allowed the cash position to get so dire and that, as you suggest, the Jiangxi placing was the most expedient and effective way to plug the gap.

RT, just a couple of points regarding the sale.

The last MD&A revealed just how low on cash we were.

Second, a Rights Issue would have been out of the question. They take a long time to organise and are expensive.

RT, yes , I agree, you'd think we fit their ambitions rather neatly. However, I'm just repeating what I was told.

JCC had offered to buy the shares some time before the transaction actually occurred, but for reasons unknown, Caldwell decided to do nothing about it.

PS made it a condition of his recruitment that the company take up the offer prior to him joining.

Without checking, I suspect the eventual purchase price was based upon the sp when they first made their offer.

RT, based upon my conversation with PS, as reported here some weeks ago, Newmont appear not to be interested in Cascabel, but have expressed interest in investing in ExCo, although the levy may lead to them reconsidering that one.

All sorts of things 'could' happen. Probably best to rely on actual evidence.