Ah GG ! I guess that is why Kevin Wills is MD and you are not.
As I have said before I think they ought to make every effort to keep the Options viable. They have given the market some good information which I fell pretty confident they will confirm and exceed by their testing programme.
They have money in the bank to conduct the present drilling campaign they have undertaken. By the time the test results come through for real in September they will probably have Sellheim staring to function and the cash flow from that will help keep things pumping along IMHO.
They are being pretty upfont with the present appeal to try and convince Option holders to take up the conversion by June 30th.
Now you claim that if they said they wanted money for Canegrass then they could get it. Well if shareholders with the present Options can't see the value of converting the options and providing that money into the company coffers to aid development then what hope another appeal.
Remember there was a cap raising about the middle of last year that fell rather flat. No, I think they have Options available now. They should not walk away from them - they must give them a fair chance of getting converted. Even if only 50 % of them get converted then that is still a significant amount of money into the coffers in the present circumstances.
Let's see what this coming week reveals and what the end result is. you might be surprised. So might I.
MXR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
