I doubt the thought of VA has even crossed the minds of the Board. I think they had a strategy in place to address any debt which may have created immediate problems.... tick. In the event of a failed CR, which I am sure they half expected they had already floated the idea of a funding partner.... tick. They have re~jigged % ownership in projects for an injection of funds.... tick. In addition to the above they have announced extending the option with Palatine for an initial A$10,000 plus (anticipated) reasonable costs of A$150,ooo for native title negotiations.... tick. Cannot see any value in committing to extending options with immediate costs attached if you didn’t believe the money was going to be available.... tick.
Of course, it is all talk until they walk the walk and we physically have the cash in the bank but I am beginning to think our Management are better suited to structuring these deals than project managing a drilling campaign. Now, if we can just get that drill turning..... that would be a really BIG tick.....
Good Luck All
PRL Price at posting:
0.3¢ Sentiment: None Disclosure: Held
