"History shows it’s totallt worthless agenda driven diatribe."
Actually history has shown my negativity to be correct, your talk of "production" is the worthless diatribe when the facts of the matter are considered.
It is you that needs to wake up. You can't develop a project without money.
Stop misleadimg people. So far they have raised a little over $5 million. $4 million of this goes on corporate expenses and working capital (ie to keep head office going, paying bills etc), plus paying for the expenses of the offer and to pay the DRC JV partners.
Where are they going to get the other $11 million to actually move the project forward. Look at the use of funds table in the prospectus on page 10 and tell me and everyone else where the money for the DFS, met work, resource drilling etc etc is going to come from?
Probbaly wiser to answer this legitimate question than just trying to denigrate the person who asks it.
No wonder people lose money on the stock market, they would rather engage in name calling with anonimous people on the internet than spend time considering the actual facts of the matter.
I can't see that Patersons are going to be motivated to launch the $5 million top up offer given the low level of oversubsciption from shareholders. I'd think any sensible broking house can see as I do that the money raised is not enough to move the project forward and that a death by a thousand cuts scenerio might start to play out.
This company's short term to medium term future rests with Patersons being able to drum up more interest. If they can't shareholders are going to be in exactly the same position again, 6 to 12 months down the road, but the share price discounting is going to be even deeper IMO. You can listen to the rampers and place weight on the number of likes they recieve, but so far that has not been a winning formula.
A little over two weeks ago
@elphamale got 88 likes and 37 great analysis upticks for his analysis that predicted $14 million would be raised.
https://hotcopper.com.au/threads/an...4627205/page-30?post_id=37347561#.XG5C3ho_WhA
Bzzzz. Sorry "folks".......wrong.
What is it about human nature that makes us believe whatever we want to believe in the face of evidence to the contrary? That might work well on a spiritual retreat but it doesn't work so well on the stockmarket IMO.
The raising has been a failure that Patersons will need to wear or extricate themselves from. Can Patos bring another $5 million to the table? If they can't forget about a mining project any time soon. You can't build a mining project without money. Esh
