Exactly, imagine if it all played out how shareholders expected of a competent management team.
- Capital raise in the 10-13c zone a couple of years ago. Say $12M at 10c. Enough to avoid the crazy $5M loan which has since blown out to $7M. This also would have been enough cash to advance cannon or pennys and get a decision to mine. Gold prices were always strong during this period, therefore it would have happened 100%.
- Instead of RVT nonsense at the end of the battery tech hype, time should have been spent building a strong relationship with FMR mill and continuing toll milling campaigns. This cashflow would have continued to fund the other gold assets to production.
- A focus on a JV for one of our exciting assets. For mine, Nimbus was prime for a JV and I am sure management would have found eager parties in Aus and Overseas since it is one of the major silver deposits in the country. This JV could have been organised in a manner that the JV partner fund the exploration and infill drilling to continue growing the resource and potentially share the expenses to develop the asset towards production in the mean time.
Not only has poor management cost us a fortune but it has put us back years, all our projects should be 3 years ahead of where they are now imo.
HRZ Price at posting:
4.3¢ Sentiment: Buy Disclosure: Held
