RE: Diamonds not coming anytime soon25 Jan 2024 12:39
When they get the diamonds there are costs associated in getting them out the coluntry, Kimberley process, trasporting to auction, then selling. There is also a time delay. I expect once they recieve the diamonds it'll be a number of weeks until cash in in bank account
It makes complete sense for them to raise some more cash so they continue their drilling and exploration at BP, plus cover any additional costs and working cap requirmeents untilk the diamonds arrived.
In the interview AP said he was very disappiinted he couldn't get them by end of the year. That was his target and thats why when they raised money in october he stated they shouldn't need to raise anymore cash for the forseeable future.
It is what it is. But i expect will be far better tiems ahead