Yes agree bbloff I get the same feeling.
If the IPO is a no go we are left with mounting costs and the ELA's at Paterson are just applications which can take months to be granted this means other than cash burn there will be nothing to push forward on.
Eventually to stay in the game there will have to be a cash raising which equal's dilution and a serious drop in the SP.
One can only hope the IPO goes ahead even on new terms as long as we get some money in the bank to stay afloat without the need for a CR.
News: MCT Metalicity Says Non-Executive Director Mathew (Mat) Longworth Will Assume Role Of CEO, page-3
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