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Has someone fired? Knew my 9:04 comment would make something happen! :)

In less controversial despatches I notice that the offer hasn't moved for 24 hours. Mexican standoff? :)

Another 24 hours passes without shareholders being enlightened on how funds will stretch through these difficult times. LR on 23rd of March "We are, however, prudently reviewing and amending budgets to take into account the current adverse economic impact of COVID-19 on global financial markets". Negotiations on JV or sale could take months so if funds dwindle who's hand strengthens? I still believe any deal is likely to be done in a cordial manner but we should have been brought up to date on the promised budgetary measures by now. In March I suspected they'd wait for April so salary cuts would be implemented in May, never dreamt it would be May for June. If the delay is for good reasons I'll happily eat humble pie, and I don't take that lightly - hate pastry!

Surprised the market hasn't received this better - I reckon they expect to be able to do this with cash eventually, or at least greatly reduced dilution. I suppose cancelling a transaction partly due to volatility and protecting liquidity could have a negative slant and has spooked a few?

I suppose if it had been a buy - we'd have been saying "big buy!" so I'd rather it hadn't been a sell but you never know the circumstances / reasoning. Could have been someone with a big holding just trimming their stake to mitigate the risk of bad news. Encouraging that they didn't have to accept a big discount to shift a significant amount.

Teaye I don't really have a hard and fast position as to what we'll hear next, nothing would surprise me. Could be work progressing as previously guided with budgetary measures including Director salary reductions to be implemented from June to preserve cash, in which case I'll be annoyed it didn't happen with immediate effect in March! Or they may have agreed an offtake arrangement that facilitates the funds to take us through PFS, even better creating the potential to mine it. Who knows, could be a very interesting period.

Sensible decision and negates some of the conspiracy theories we've seen on here regarding the deal.

I think everyone's hopeful that some sort of deal is being done that will avoid the budgetary measures that were first officially raised on 23rd March. We were told these would be announced when appropriate and they haven't been over a month on so what can we read into that? There's a cynical view and an optimistic one, either they're kicking the can down the road on salaries or maybe something is being negotiated on most likely the silver. MC did say there were more things in addition to the silver that give us non-dilutive options so I'm hoping that we're not giving up too much of the Ag upside at a challenging time in the markets. Not going to win any popularity contests with this but we can't assume any deal is a good deal and it would be a nightmare if shareholders lose exposure to our precious metal with an arrangement that keeps the company solvent but falls short of positioning us to build this thing.

Any experts out there on resistance levels as there seems to be something about 26p? Just feels like sunlit uplands could be beyond.

Crikey that's a new low for this board. Think I'll leave it there. GLA

Because in the current situation of global economic distress it is even more imperative that funds are stretched as far into the future as possible. Nothing too controversial about that is there? I'm sure you'll find something though...

You said 'years' the first time Bobby. I agree that completing a transaction following an 'agreement' could take over a year that's a different thing. It's not going to be years.

Possibly, I have said before they'll likely look at cutting every other cash burner before reluctantly turning to the wage packets. I guess that's probably the order in which most of us would address the problem if we're honest. Let's hope something else is going on but as I said before the one FTSE 250 on my doorstep moved swifly to cut wages 25% from boardroom down and they sell their engineering products around the world, have an SP that has been over £50 and have an extraordinary cash reserve. If they are just delaying it would be appalling, I really hope not.

BB I'm hoping it's negotiations of some kind but if it is neither party would let it take years, maybe you're just on a little wind up? For a start we couldn't pay the Spanish team for years let alone the Directors! I think in this slight conundrum the one thing that does make sense is the potential contaminants. The ones that are ruled out entirely (eg. Arsenic & Bismuth) have been announced but the inevitable traces of others (my guess Cadmium & Mercury) requires sampling from a second location. Yes if I was a potential buyer I would want to know that they didn't just get lucky in one zone and would want proof that they aren't problematic across the resource.

On 23rd March, "The economic impact on the global economy of coronavirus (COVID-19) is being assessed by the Board, with strategic plans and budgets being revised accordingly, with the aim of conserving capital. Further announcements will be made as appropriate". Over a month later and we hear nothing, as is so often the case in this market I feel a binary position has developed in which either a deal is being negotiated or they're going to push the implementation of salary cuts into June. My fault but I've got too much in here for it to be a red or black situation - place your bets folks!

You'd think the strong SP today would suggest that was a £2m buy last Friday, particularly with gold having a rare weak day. Wonder who it was?

I don't think the market has woken up to how astonishing the 025 cores were. Funding has plagued us but if a non-dilutive deal is being worked then maybe at long last our true value will be realised. The re-rate should be extraordinary.

LR's baby? More like a troublesome four year old :) Undeniably this is a very difficult time and metal prices are still in recovery, though projects aren't sold on spot prices. As Brickz has alluded to before, this unfortunate event could also provide unique circumstances creating an opportunity for EUZ. We know the jurisdiction is supportive and they will want it developed, what better way to oil the wheels than to keep EUZ on the job, they will not want to be frustrated in getting the jobs and wider economic benefits from contractors to catering.

We seem to be talking about everything except the fact that someone appears to have spent £2m on POG shares on Friday. Was it a worked buy with the price deflated all day as other goldies went up or will turn out to be one of POG's trademark 'transactions'?

Best wishes Rusty, sobering thoughts amongst the knockabout stuff of a bulletin board.