Ann: Update on status of Final Feasibility Study, page-31

Can almost guarantee you that our US “friends”, are the ones dumping.

Many of us voiced concerns with the structure of the deal with them, including to the company. It basically incentivized them to sell down and pick up subsequent tranches cheaper.
We were proven, unfortunately, correct.

A self inflicted mess …. you don’t need a degree in mathematics to work out that excessive selling pressure, with no buying pressure, = price drop.

At these levels they still have plenty of damage they can inflict. Management need to pull their fingers out and finalise whatever working capital arrangement they’re working on… to add buying pressure.

I like these levels (MC) for buying, however I won’t touch this until the capital is sorted and we get that “buying pressure” … because my non-existent degree in advanced mathematics tells me that the potential for a consolidation IF they keep this up, is very real.
And after most consolidations, the price falls without stellar news.


Amazing how a company with all this potential, manages to screw up basic things.
It’s almost impressive.
There are shareholders in the T20 who have been screaming at the company for years about excessive staff spend/crappy deals/raising money at stupid times/Phil being corrosive and the worst MD (IMO) for the company.

Now we wait and see.


I’m not worried about the “administration” and “company going under” claims I’ve read….. The company has a lot of support and folks that have too much to lose. The story is still good (albeit nowhere near the company’s predicted timelines). Dilution is the biggest concern here IMO….. you’re now looking at hundreds of millions of shares to raise 7 figures.

Had we just replaced Phil with a potato (a literal potato) 4 years ago, we’d be in a much healthier position both financially and MC wise.


Cheyne