Omnia Hardrock Agreement9 Aug 2018 17:45
"Phase 3 - Drilling
It is envisaged that drilling will be carried will only be carried out in order to identify and confirm mining targets. If the projects are considered suitable for progressing at the Company's sole election then the parties will agree to the following programme of building a suitable geological model. The initial budget shall not exceed US$100,000 split equally between the Company and Omnia. Should the results of this modelling and financial study indicate a project with an internal rate of return of more than 25% then the parties will agree to advance the project to development. This phase to be completed by no later than 15 August 2018. Should the Company at its sole election elect not to continue then all information generated will be supplied to Omnia together with the associated raw data".
So Wednesday next week the company should have finished drilling. It does worry me a little about the initial cost of modifying Omnias plant. Where is this money, if needed, going to come from? ...placing/loan?
Then there's FB plans to be announced (finance and partner).
Then there is the acquisition in Zim. Since the election, there has been a bit of trouble, not sure if that's still on going? After seeing ASTs climb today, I think we could do much better.....ran to the ground, with a huge spring back up again. Our mcap is tiny, so the price should move rapidly if and when news is announced.