Member Info for hedged

If it was solely down to the copper price then I don't see why they don't issue the report and then continue to improve the economics of the mine after that. If the price of Copper is depressed for longer than expected then everyone would understand waiting to build the mine until prices have risen above $3.25 per lb.

Tony and Peter both have over 30 years worth of experience. There is no denying their knowledge. Despite all this experience, I'm still finding it troubling on how they mis-assessed the BFS that meant they didn't drill enough holes and drill deep enough. It's pretty obvious it was a management cock-up.

Where do people expect this to be pre- and post- DFS? I can see this hitting 13p before and 20p after the DFS lands.

I'd be surprised if JPM put more in considering they are underwater here too. If the BOD are wanting someone big to participate then they might ask PB to contribute substantially too like Tony has in the past.

Last year the firm spent $8.2mm on expenses like exploration, consultants and employee benefits. The half year interim accounts only had $4mm cash in the bank. The firm would have increased exploration vs last year to get the BFS and Beutong sorted. If our monthly spend is exactly the same as last year, we'll have enough til the end of the year. How long do you reckon the cash will last for?

I believe we only have cash til the end of the year so a placing is due. If the placing is done tomorrow hypothetically then this will push the price below your technical support. So you're assuming this will rise before any placing or that a placing will have minimal impact. I wish I held that short-term optimism

What were your reasons to believe it was (and still is) going to hit as low as 2p when it was at 11p? Personally, I don't believe it will go below 4p but Im open to hearing logical arguments to the contrary.

Personally, I don't believe the recent falls were due to margin calls at all, it's a great convenience to suggest it was a forced sale and not a disgruntled seller. The BOD need a plan to build momentum. Currently they dont have one and the proof in the pudding will be when it hits 4p. I'm a buyer at these levels but Im mindful of the flaws which are being ignored by the BOD.

That's very sinister of you Chartist to suggest that. However, I do recall others suggesting that the rumor and subsequent release of the delayed BFS was a coincidence so you're not the only one to think this sort of thing. I, for one, don't believe the company had anything to do with the mistake today. Seems like a legitimate error by others.

*if you do not believe there will be a placing

I think the long-term story remains the same. If you do the believe there will be a placing, how do you suspect the firm will fund 20 additional drills when the current capital will only last til year end?

Does everyone think a placement is likely? If so, when and at what price? I believe the last placing price used the 30 day average.

It seems to me that Chartist was implying that Berenberg had the potential to generate short-term growth for ARS as oppose to actually negotiate a 20p take over price. This was just an arbitrary number he used.

Ouch.....the only thing I'm reading on the N4P board is "nothing to worry about here".......it's down 50% mate.

I can't see a takeover bid yet, the big boys will want Beutong which is about 4 years away from production. Maybe once we've done the BFS for Beutong then we might get an offer but I can't see the big boys wanting to do so much work on a mine at the moment. It wouldn't surprise me if they are interested in a JV at this stage.

10th June is the Escondido decision which is just after the publication of the BFS.

There will be an interview with Peter Bird, CEO, today on vox.

The Copper price is continuing it's rise. We're nearing the $3.25 mark which was used as the benchmark price in the PEA.

Are we expecting both the increase from 40% to 80% in ownership of Beutong and the BFS this month? Or was the increase in ownership meant to be last month?

If the seller is always going to sell then the outcome will be the same, whether we release news first (and see a rise) then the seller sells to bring it back down. Or the seller sells which drops the price and then we release news to bring it back up. My initial point was that the seller was selling because he didn't believe the share would increase in any value and therefore sell and move on.