I agree but Beutong is a monster and we could not afford to do anything on that without this money. Also KSK needs someone with deep pockets to construct the mine and we still have 22 percent of it.
Should see at least a 100 million market cap soon enough and then onwards and upwards to that 1 billion market cap Tony has talked about!
I was suckered in here after the RTO - it was about 20p and now 0.8p all they do is raise money and cant seem to increase sales.
Management get paid to much.
Its a nice lesson in my PF at about 80 percent down and that was after averaging down. I have written this off as another shocking RTO. Who knows one day I might get a bit of money back or it delists. Just checked it is 0.71 to sell my holding.
Its more than doubled in a few days and they need funding urgently.
The problem is this is not a team sport, the rampers have been selling into the people who got spiked and soon will be forward selling the placing!
Remember they cancelled the death spiral at 0.007p its now around 0.028p so far higher. When will they do a placing as they said in the RNS. Before people say they won't please check the cash position! Sure it could rise more but they will place within the next quarter.
Instead, and consistent with the previously announced intention of the Company to move towards conventional financing, the Company intends to replace the variable conversion price financing structure of the Facility with organic funding from revenues together with conventional issuance of ordinary equity capital and non-convertible debt. The Company will aim to restructure its financing in the next quarter and will provide updates in due course.