Mark My Words16 Mar 2018 00:15
There is no need for a placing at this stage:
- we are generating increasing amounts of revenue month-on-month
- costs are low and easily covered
- we are lending money to our contractors
- we are debt free
- current alluvial operations require no significant further capital expenditure
- the Omnia agreement means that non-FB hard rock also does not need input of large sums of money.
- there is every sign that a pooling agreement similar to non-FB hard rock can be arranged for Fairbride, when the time comes (2019?), but even if CB goes for a traditional debt/equity split, it is legitimate, in my view, to expect the share price to be at an incrementaly higher level than it is now, when months of revenue will have accrued.
- finally, raising capital to bring our major asset to production, even if it proves necessary next year, should be viewed as a positive step, in my opinion; for long term holders it can only add value to our shares.