Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
One thing that makes sense now is the lack of figures on Manica earnings despite repeatedly asking about them.
They had been held back deliberately because they would probably make this deal look lame.
The choice is simple, have $15m over three years and be out.
or
carry on taking the 23% and put that into our share of development of an underground mine.
For those saying it would be dilution look at it this way, would you rather spend the money on our existing site that we know has potential or go rainbow chasing with the money and have no money and no asset in 2027 ?
I think we need more for the asset and payment over a shorter period, if they can't afford to pay us more let them go looking for the cash from a JV.
Why should we get less than it's worth if they can't afford it, I bet they are laughing at CB, We took all the risk in the first instance and when we proved the asset we had to JV to get the gold out of the aluvials. Why shouldn't they give some away to a JV partner , they will have 23% of the asset to give them.
Thnk about it, CB is trying to roll this turd of a deal in glitter.
That's a very good question Billy, I've never thought of that. Other companies stop product when the viablity has gone, recently we've had Landrover stop production due to over production for instance so I suppose it's a thing.
I should imagine a copper producer wouldn't stop mining, just stop selling the copper and stock pile the pay until the price makes it viable again (hopefully) purely to keep the continuity for the workers etc.
Unlike Range Rovers the copper isn't going to suffer left in a field for a couple of years.
Plus the fact we won't be doing the mining so we don't have to worry about such things .
We will have a long wait bit that's the figure CB said would work.
And you can have all the tonnage in the world but if the copper in it is worth less than the cost of extraction it will never be viable. If he could prove up another .7mt to get us to 2mt and up the grade with a few lucky holes we'd be "off to the races Zak"
I'm generalising and taking all that into consideration as I can't be bothered to repeat it, it doesn't change the fact that ATM it's uneconomic and more drilling of the same grade won't help.
I'm praying for US$11k a tonne !
I agree with everything you say NicetoMichu, especially the Bird will do what he likes bit.
Nothing I say on this BB will make the slightest of difference but it makes me feel better to vent knowing the old git reads it to judge how easy he's getting away with it.
i had a feeling oldcolbird might be watching.
hi colin, sort it out will you !
you only appear when we are in the **** again don't you, i notice you didn't appear last week crowing.
why i are we still here ?
because you've still got my money.
That's exactly why the SP has tanked.
That $16m might as well be $160m as far as the PI is concerned, we won't see any of it, it will be spunked on rainbow chasing, the higher the figure he's got to spendthe more risky the "investment" with CB.
We need evidence of direction and investment ansd if we don't get it before the 13th Feb I think we should vote against the sale. It's not what I want ideally but it's the only tool we have to get CB to do the right thing.