Mostly what you said is correct.....however due to there incompetence in the last 6 months we have needed a further 5mil to do this "strategic Review" and amended BFS.
We also as Shareholders could have taken up a raise at 8cents and also taken a profit!!! Most of us only have doubts due to what has occurred in the last 6 months. I also would have loved to have bought in at 8cents and been given an opportunity to skim some profit, not that I would have.
We raised $36mil + $5.85 from LDA and now a further $5mil and got really not a lot further for it. Sure we own the Company outright, have an amended Resource upgrade and hopefully most of the amended BFS done but we are still going to need more funds. The initial $36mil was to cover most of the BFS, sure we probably were short but by $5mil or so but they've made a meal of it hence why we are at .11.....
At least today we can now see the "congo" line that Bryan raves on about.
I sincerely hope they do come this time around with a clear path forward and a budget as they cant get much more wrong.
HIO Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
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