Take it while you can. This company is not flying close to the wind. It has money in hand. It is just choosing to wait to cash up where it can. It does not have to go and find and prove up a resource. It does not have to go out and drill the resource. It does not have to prove the metallurgy. I found ilmenite in Ecuador which was not worth the effort as it was costly to get the iron out. All it has to do is coax a few CEOs to spend some money and do a DFS.
There are a couple of sayings that come to mind. There is none so blind that refuse to see, and the other is about the leading a horse to water. The outcry of fury about EUR converting their loan. This only needs 20 investors whacking in 5G each. They can't go any lower (well maybe with a consol).
If I had a spare 20G, i would be at the trough.
Ann: Secured Notes Provide $1.32m Cash to Fund Operations, page-37
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