depends … we all know theres plenty of metal there.. the issue is whether its cost effective to get it out.
SS could not do it otherwise they would still be holding it. Our biggest chance is with a major who has access to the $$, Technology and brains to structure a mining plan.
LONG WAY to go... but much worse punts around than this.
My concerns are:
The most recent raise at 1C... the free oppies given at 1.5... are we concerned that these will put a lid on the SP?
The payments due to SS - they still exist and actually ramp up... we will need positive drilling results and this thing to move materially to get an insto involved.... too many shares already so would need to be much much higher or a very good deal for them.
If results are good & KEX think it's minable (which we & Nick will be last to know given Kex control the program and the disclosure) …. I have a genuine fear that they will just go hostile straight away and look to steal this.... if you offered 3oM you would likely get it … take out the payments to SS and you have some pretty good dirt for a steal.
Thoughts gents?
Ann: Closure of Unmarketable Parcel Share Sale Facility, page-43
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