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Yes but we have the right ore with higher concentrations of SC6 but GR mismanagement of commissioning inexperienced contractors with two failed attempts to build a functional plant .
GR spent tens of millions and destroyed our share value caused all this..
I agree assets than can’t be monetised is worthless but we are producing the assets but can’t process it to the required grades and quantity…
Let’s see in the next few weeks…
I haven’t given up hope and still believe the plant will be tweaked but the timeline is crucial here and GR needs to come out with positive progress to change this sinking sentiment…
I think GR will issue RNS this week and let’s all hope it’s a positive one for a change as it seems he is running out of excuses to blame everyone else but himself.
But in reality Having asset you can’t monetise yet with cash flow problems is a serious matter for any company survival. Let’s accept this criticism and it’s a fact.
Let’s see this week how it progresses as I hold big numbers here and still feel Prem has come longways and so many people and the country reputation at stake if Prem fails is here ,then a well known big local business man with very successful career in the country is one of the directors on board with another from Canmax overseeing things too.
IMV …The plant itself is huge and any issues should be rectified as many experts on site there to sort it out.
We still have a good amount of cash which was raised recently and a local bank loan of $300k too.
On balance I feel more positive and can see the end of this saga of uncertainty .
Holding strong
GL
Mrbrian
You are wrong
Which company has been valued without revenues and profits!!
Name them please but don’t quote stockbrokers bullsh@ts and analysis of expectations.
You only put value on any company if they have produced revenues and profits.
Please stop your fanciful drivel.
ACKER
Why are you so bothered by debts now while the concerned debtors are not?
Then if Prem managed to produce SC6 with good quantity and constantly… the external finance will be happy to lend GR ..!
Let’s take one step at a time.
I think a raise will be at much higher sp. Just how I see things now but of course if GR disappoints again then he should be replaced.
Once Prem proved itself and starts production sc6..all his debts will be resolved…one way or another. I don’t believe another placing is imminent either. We have enough funds now to raise later at much higher.
I am only interested in the plant working constantly producing SC6 in good quantities..
Most mining if not all and big oil companies in massive debts but as long as they are generating revenues and profits to manage their debts .
Debts become serious when the company fails to generate revenue and profits…
Holding strong with confidence..
GL holders
Placing wouldn’t be an immediate priority for GR but getting some positive news first is , then he can raise at much higher price .
Good Production SC6 and constant working plant are my priority for now as this will also open external financial support…
We are moving forwards with the right expertise onsite..and it seems GR is listening as his head is on the chopping board if he doesn’t perform well this time..
The responsibility of all the mishaps must be with GR as he is sitting at the helm and questioning his competence after repeated share dilution and more dilution of our shareholders value to rectify his own wrong decisions and more liabilities towards contractors and Canmax…
I definitely wants him replaced not immediately but after successful production and start of shipments once we are sailing on calmer waves.
Giving him a way out and blaming Stark doesn’t wash out with me as he is the one who selected them..
Anyway we have to move forwards from here and good progress is being made and I am far more positive with my current investment. I took advantage of recent low sp and bought with my full isa allowance here!
Enough ranting!
GL holders
Longways to go…nearly 90% down from 5 years ago
I am holding here and can see a good recovery coming as the market continues to undervalue our assets and cash position with hopefully imminent positive news on monetisation..
GL
Worth watching as it involves GR running on Prem discussions..
https://www.youtube.com/watch?v=fvIQimW6c60