Roll on28 Feb 2019 08:04
Next Friday.
RNS de-listed from ASX, which will have cost us circa £100K. That is £100K the company should have spent in October 2018, and avoided this mess we now find ourselves in. We must now be almost out of cash after the last accounts showing just 190K.
My big worry is that when the SS is re published showing NPV, that the share price will not reflect it due to the state of the companies finances. (As previously posted by Quindell).
Listening back to Pod casts done by LR he has always stated that he is open to offers for the mine, the big question now is how much money do we need to raise to move on and complete the PFS and FS?
Maybe they can raise £1M giving away equity FI agreement, but a placing would be the end for most holders here as we would struggle to get our money back, even years down the line. It would be 50% dilution at todays prices!!
I note the board have been very quiet recently so lets hope they have been working hard in the back ground to get us forward quickly, but I sense we are going to need something special to even realise a break even point for most LTHs, with funding uncertainty looming in the back ground.
Personally not happy sat on a huge paper loss, that was totally avoidable by delisting from ASX last year. We would probably have all 10 bagged if this situation had been handled correctly. Sorry but the BOD have to accept resposibility for the failings and some how need to rectify this before we will see any SP that reflects what the mine is worth.
0.2p would be very welcome, but I doubt even that is achievable with the finance situation.
I sincerly hope I am wrong for everyones sake, including my own. Anyway another 8 to 11 days and we should know more.
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