RE: No planning23 May 2021 14:20
This is the fourth fund raise for the expansion project. It suggests that, at the beginning, the BOD had no idea what was involved in the upgrade or what it would cost. We have to hope that the people they have hired do know what to do and can complete the project by July. If they can achieve the 1 million tonnes throughput they are looking for then this still looks like good value at the current sp, but if there are any further delays or fund raising then the balance will start to shift. Certainly with only a 51% interest in the mine after Teichmann exercise their CLN then any more share based funding will result in blue rock losing control of the company. I'm holding for now but keeping a very close eye on this.