Says a lot about the sentiment for small explorers and most of the resources sector in Australia ATM. Not long ago this sort of announcement would have sent the share price skyrocketing.
The converse is the IT sector, where if they come out with some new unproven system and have no assets to speak of, the share price goes up 5 fold in week.
Some established miners are still profitable and have cash balances bigger that their market cap - go figure.
Such are the times.
On the positive side be great to see the finance deal set in stone soon. Will lock in a great result for management.
IMO etc
Ann: US$50m Conditional Funding From Bank of America, page-49
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