Dumped, page-142

Grubarura.

Here is my more realistic prediction:

The drilling will NOT start in the near foreseeable future owing to S32 dragging their feet.
Management are powerless now and showed their inbuilt weakness by allowing S32 to get away with delays that cost us dearly before signing the agreement.
They should have told S32 that they sign or pay our expenses or that we would seek another partner.

Remember that a weakened ICG is in S32's interests, and anyway, when did we ever meet our timelines for starting drilling, or anything else for that matter?

I predict that management will spend what little money we have on new pet projects rather than batten down and wait for results when S32 do start to drill.
This will lead to us once again being in a desperate situation and needing to raise cash and management will not be able to offer shareholder crushing discounts in order to achieve a take-up of any CR.

Our management have extremely poor risk management skills and will go head-first into spending on pet projects along their perceived timelines from S32 that will never meet their expectations.

ICG have now shown their hand in just how much they expect from S32 for a buy-out and that being $200 to $300 mil.
Why would S32 now pay any more regardless of how good the drilling results may be.

Lockitt