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No offence but that is such a stupid comment. The money they had previously didi not account for these new issues( which they need to fix to get a quality product) so I can guarantee you that he will need more money very soon to pay for these new fixes
I wonder where all the money is going to come from to fix these several issues. I tell you what he for sure is not getting a loan any time soon, so what does that leave. Oh I know an EGM to increase the headroom and do a placing lol
As George has already mentioned prem needs to demonstrate they can produce, only then will the Zimbabwean lenders give him a working capital facility. So this means the longer they spend on fixes and tinkering with the plant the longer they go without production and therefore funding.
Does this mean an EGM becomes likely, to raise the share cap and issue more shares as working capital?
It’s interesting how everyone is talking about the timing of the RNS but not the actual content which is quite concerning . Talk about deflecting from the obvious. If as the TG group say this RNS was meant for Friday that’s even more worrying as they’ve had the entire weekend and Monday to rectify the issue which they have not done.
Hmmm now where have I heard the reference to system control issues before. Oh look it was in the RNS dated 15th may 2023 and clearly it must have been a major issue back then as they haven't produced anything since. And now he’s referring to similar issues again. I sense dejavu
"Work on optimisation of the plant and process control procedures to achieve nameplate throughput will remain the sole focus of Zulu.
"For the services rendered including mining works such as drilling and the supply of con-sumables, contractors were owed about US$ 2,2 million as of last week,"
That’s 2.2milllion for the above alone. No mention of the mill and thickener, and the amounts due for that.