RE: New podcast1 Feb 2024 15:35
I need to be clear if you’re reading this Colin, I can’t speak for everyone but myself (and any other shareholders who’d include themselves) got sold the dream of Manica one day being an operating mine in what, 2015?
It’s a gold mine we LTH’s have backed you with since day dot, I (and many others) sat through multiple placings, dilutive finance, supported the DFS, realistically spent years with the threat of losing all I’d(/we’d) invested to back this venture through to production.
It’s now in production, looking (to me anyway) like it’s moving wholeheartedly in the right direction re costs, production profile etc and now you’re asking us to sell it to “guarantee income” so we can go and explore somewhere else (which as per my previous - doesn’t sound bad) - in the hope of a sale down the line.
Well sorry, but for me, the buck stops here.
I no longer care about what prospective assets could/ifs/maybes will do in the future, probably.
I want cold, hard, cash in the bank and personally I’d rather we pivoted fully into financing and concentrating on gold production at Manica, with BR in the back pocket and trickling spare cash into Zambia exploration whilst putting the bulk back into our producing asset- that is what I would like to see.
You’ve already stated in the podcast that if other licence owners make a find near us in Zambia our ground becomes a need to have so we don’t NEED to be the first to make a find - you’ve also confirmed we already have the circa $2m needed for committed costs. On top of that we’re going to continue banking cash from the mmp 23% profit share agreement.
I see no reason to dispose of the Manica asset as “it’s hard work” or “it might cost us money” aren’t good enough reasons for me to now bail on a project I’ve been a part of through thick and thin, especially when all the info I’m seeing re production backs up my view that Manica is in fact a good project.
For the record, I want to openly thank you for all the hard work you’ve put into the company over the years and to honest, I’m under no illusion that without the one and only CB XTR probably wouldn’t exist anymore, however, I do not agree that selling our producing asset is the way forward and you’re still yet to convince me.
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