I don't think they need $50M. they might need $10M to $15M to get them through this quarter and then when they hit nameplate CONSISTENTLY half way through 1st qtr of 2019 CY they will be on their way and can start paying down debt. Whether they raise $10M or $50M the share price will suffer. I almost think they should do it now while the share price is above 15c to prevent more dilution if they have to raise at 10c.
I think the value is still there and I'm not as pessimistic as Cash. I think they can get themselves out of this mess pretty quickly once they hit nameplate consistently. I'd like to see a change in management especially on the financial side. Someone who has worked at a mid cap miner as a cost controller because their cash burn right now is outrageous and needs to be brought into line.
Time for me to sell now and wait and see what happens.
AJM Speculation, page-250
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0.3¢ |
Change
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Mkt cap ! $18.53M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $3.621K | 1.257M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 121 | 181496973 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 20055545 | 43 |
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