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A sale is the best option for us to maximise our return. If we go ahead with the projects using external finance and grants we will still need working capital and that means placements. Let's see what happens.
So down it goes with hardly any cash left and God knows how many more milion will be needed in working capital to bring any of the projects to a cash generating stage. The projects are brilliant and the potential is massive but the market knows that they do not have the resources to complete anything without help from partners.
I do struggle to understand the Talaxis deal. With this deal they would fund the whole mine con and give us a risk free share.
Agreed Munch. We need a juicy RNS and now. The market is treating nearly all AIM mining companies as junk and elsewhere alot of my portfolio has crashed as projects are shelved on funding fears. We should be fine here, but the market needs to know this from the bosses by way of an RNS. Imo I am hoping we get bought out at a decent price and let someone else take the risk in developing the mine.
August is always quiet. News flow will start next month.
Good luck mate.
If I was a CEO of a lender thee is no way I would lend here at a favourable rate until flow rates are materially increased and plans show a healthy profit. This reminds me of AAOG with some of the same rampy posters. Go on Art and prove me wrong.
The word bargepole comes to mind until the dust has settled.
Then depending on the cash position it could well be an excellent punt. The resource is massive. If they can master it there will be great rewards. If not it looks like bust unless they can get their wells flowing three fold.
What I never understood was why there was provisional finance being offered if the feasibility study was not up to scratch. The market was possibly totally mislead on Dundas and dare I say a few porkies may have been told. I got out at 9p and counting my lucky stars. I will not reinvest here until the whole board has been replaced.
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The problem is not many of us know how good this is and what is going on. MM's are just treating this as a bulk standard explorer as there is not much else they can do. Just a shame we don't have a pr and ramp Crewe like 88E
It's the concern about the financing bringing this down. It's ok talking to banks etc but that does not guarantee an advancement will be made. Money is tight and MKA does thing by the book and right but that means the project is moving at a snails pace. I am holding but I understand why people are selling.