sorry as noted bit missing24 May 2019 11:53
There have been various suggestions e.g, open offer of shares, Circum sale (this is due to the fact we also bought them in the same way as we would sell them) or wait for Circum IPO if happening very soon. Our worry is that it will take billions of shares to progress Zulu without an SP of 0.4 or more. Please could you advise how you want to get Zulu drilling immediately. It's been too long and the KME transaction has not helped matters when they could have been sorted sooner. We are here to assist and would debate any options you out forward. Again, see my comments above. And in regard to Circum, whilst I understand the desire to dump, I don’t think we will get the same price even though the project value has dramatically improved. That is a factor of some historic dithering in Circum and current markets. I do expect that Circum will provide an update to all their shareholders in the next few weeks and I do think there will be a decent payday. Decent, could be as much as 100% gain. At $2.50 we would be talking $12,5 million? I am NOT suggesting there is any deal, I am just being demonstrative. The facts remain that I feel as if I am in a catch 22. I cannot progress Zulu without quite a lot of money and I can’t get money in adequate supply at the present share price. This conundrum underlines the reason for considering the HBR/KME transactions. These were poorly met and this reflected in the share price. Maybe we need an alternative that is already cash generative even if a whole lot more expensive? Maybe such an acquisition could see a simultaneous overall management change? Any thoughts and suggestions are welcome.
2) We would like to know when you expect the RHA board be finilised and a site visit booked? We do not need detail of every meeting just informed of progress often. A probable timetable (yes I know you get chastised for this) would be helpful. Really guys, this is just not under my control. I have personally discussed this earlier this week with the Mines Minister. I do NOT have a drop dead date but I must say I am not far off putting NIEEF on terms. There are alternatives that may fund RHA independent of NIEEF. And with tungsten being talked up, RHA prospects should be improving.
Being upfront with Shareholders regularly will prevent Bulletin Boards from being a place for agenda and influence. It will become and open and honest communication tool to support in key decision making and debating key issues. It is important that we share views from all to allow us to work together to create a company long term shareholders deserve after their patience.
If this could be replied to as soon as possible, that would be appreciated. We would like to thank you again for replying quickly to our previous request and we welcome the future of more open communications with all shareholders.