beards on the money

At the recent annual general meeting the question was put to the chief beard, Tony Howland-Rose regarding share issues and dilution vs borrowing the cash.

His reply was something along the lines of he was bullish on the Ni price and by raising capital he could access the expected high prices. Compared to the other scenario of borrowing the $ which the banks would require you to hedge nearly all of your production.

So far it looks like the beards strategy is working.

I have not done any sums but if you plugged in todays Ni price compared to what Pattersons plugged in their analysis report you would have an upper value miles away from where it is now.

We are still having to be more patient then I would expect. I think the SP is still lagging behind where it should be but I must admit that everything is shaping up well.


Chinkiat