The funding problem keeps haunting us. Even if EM2 raises money they will be out of money in six months. Buying companies like EM2 is more like a gamble. The following business day any of these can happen with different probabilities:
1) A cap raise at deep discount.
2) A cap raise at small discount.
3) A cap raise at premium.
4) Another loan from Bass
5) Takeover offer or another similar positive news
6) Nothing
Mason is part of the house. He collects money whatever happens. The average gambler loses.
Ann: Mineral Resource Estimate Increased to 28Mt @ 1.35% Copper, page-43
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