Sometime by Friday we will get some news. Like you who are on this thread; I'm waiting with baited breath. Obviously hoping for some hopeful news.
I think we should not forget that there are employees (including directors) of the company doing the same thing and I'm sure that everyone involved is doing everything possible to salvage what appears to be an impending catastrophe.
RMB and other insto's believed in the company's vision. So something seriously went wrong in a short time from raising capital to realising that the shit has hit the fan. Underground mining is very different to open cut mining. Once you commit to a stope; if the ore grade is not what you expected then its very costly to dig another tunnel. I guess they had too much of a delay between digging ore and processing concentrate; only to find its well below grade. plus changes in economics on top.
To be honest. They did the right thing calling a trading halt before potentially crashing. At least we have a chance of mitigating against insolvency. Thats rare in the mining game...usually they jus go belly up first then tell you. Hang in their folks... I like MR; I reckon he's top class.
Sonid
BSM Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
