Well, Robo, I agree 50c would be a fair price just now, but only for a bit of funding to allow exploration to proceed, otherwise everything else will collapse. See, the "Master Plan", which included the consolidation, called for the issue of well over a hundred million shares to the offtake partners and to the financers as part of the financing strategy. The projected sp was going to be 80c +, driven up by exploration successes that havent occurred. Obviously, such placements now cant go ahead because everything would turn to (you know what). Any large placement at current low sp (or, perish forbid, at a discount) would destroy the whole plan. We would have to consolidate again. (Dont laugh, Billmac..) yeah, we should have opposed the consolidation, but I, for one, was "soothed" into believing all would be fine. Well, its not. So a placement at or near the current sp would have far-reaching consequences, beyond just an immediate dilution of our holdings....it could scuttle the whole works & jerks. While the principle of fast-tracking into gold production seems sound, it should have been commenced 2 years ago. Right, Robo? To try to do it now, doing placements at dirt cheap prices and diluting our holdings by effectively halving them again, becomes almost a knee-jerk reaction that wont bode well. Anyway, mate,thats how I see things personally. Having vented my spleen, I feel momentarily better.
cheers GZ
PRH Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
