RE: Capital Raise?23 Oct 2021 09:47
I mentioned the prospect of a raise last week. We have to remember that there are no defined values applied to our assets at this stage. Just guesses based on great initial test results. You’ll all notice TP are also being sheepish about values and numbers, merely pointing out that we have “potential” for upward reassessment. They are only doing their job. We don’t have concrete facts yet, just great indications. There is also the fact that we only have roughly £3m quid in the bank, which ain’t getting much done. So it’s eminently on the cards. Unless a deal is currently being discussed that we don’t know about. And we won’t know, because it’s early days. My view is one of reality. Until we have defined values worked out with WACC’s, accurate iron ore costs, sustaining captital etc etc they we are in risk territory. Territory where we need money to get things done, and moved on. Yet despite that risk, this investment remains, for me, my most exciting. And one with huge potential. I am thoroughly enjoying being a part of this with all of you. And I believe next year Bill is going to have his finest year.