Member Info for Baiki

Thanks to both icepick and madsktpan for the clarification and explanation. If it came across as though I was trying to make any suggestions of misappropriation, let me state that is not the case. Trying to understand the situation as a whole and seek others views on the issues facing the company i.e. Breakdowns, wages, funding and prospects for the future. The good and the bad.

http://www.botswanaguardian.co.bw/news/item/3547-mowana-copper-mine-struggles-to-pay-wages.html

No ill intended, could probably have phrased it better. Just wondering about the timing of the placing, maybe the £2m wasn't quite enough or something cropped up. I read somewhere that September salaries hadn't been paid. Part payment (about 30%) was made around the 4th of October with a promise to clear the balance at the end of the month. Explanations range from breakdowns to extended holiday. Then at the end of the month we get the £396000 placing. Cash seems to be extremely tight for wages to come into play. If there is another breakdown is will wages again be on the line and will there be another placing. Open to learning.

Hi all, pardon me my first post is a question. Was the £396000(gross) placing cash for paying salaries or for equipment repairs?