RE: drilling to restart Mon 6th Jan?3 Jan 2020 13:49
Bobby I agree some clarity about the risk of dilution would be a massive help but I don't think any small explorer can realistically ever take it 100% off the table. In one of the interviews MC mentioned the "optionality" that the silver gives us, that's a massive hint that other funding options are opening up so I don't agree that the risks are higher than ever. In fact the three independent reports have progressed us to the most de-risked position we have ever had. But going back to the relevance of PR it's infuriating that we are having to de-code these comments from interviews where they are I believe, excessively cautious. If the silver gives us optionality why not make it explicit with reference to funding, I don't see what rules they would be breaking if they apply the appropriate caveats. In the same interview LR also makes a comment about how they plan to use the mets and was really close to referring to other parties. To his credit Andrew Scott pressed him on it and of course he batted it away by generalising about the whole project. That's why I've got a bit obsessed about media today - they must be the most cautious communicators on AIM. Didn't LR mention a presentation on de-risking which was prepared for the AGM - why not get that out there with the met data adding another layer of de-risking. Whenever I've actually spoken to LR I put the phone down feeling inspired but while I know they have to be careful in interviews they are so incredibly circumspect in what they say the overall impression can be a bit deflating. It's a tough one as a used-car salesman rampathon is not what's required, we know we have the asset, perhaps it's just about getting some energy into the comms.