hee hee... looks like the tribal fights aren't confined to the highlands!......
some good info here. nectar I appreciate the positives but i think your forecast are....admirable! janus also has his mind on the future production.
i spent time looking at the history of the Mt Kare saga - most interesting..sounds like CRA were pissed off about the easy alluvial ounces being taken back in the good ole days.
strange how company hasn't mentioned cambodia much lately.
Not sure who placed store on major holders..remember they will come and go...
I like the idea of ore being treated next door! if feasible.
turps...i have been reviewing their cash too...here's some thoughts
There is probably under $5m left at end of March..The spend on PNG to date as at Dec.11 is $37M made up of
$17M of shares @25c to buy the project
$4.6m cash part payment Mt K.
another $16m is for drilling 10,000m and PFS
As well with expensive staff in PNG, cambodia and HO they have to make sure they get runs on board.
I had formed a view that the price was being "run" upwards closer to the 30c placement (probably those holders from 20c IPO would have already sold or in for LTerm).....yesterday and today there was a hole of 1 to 1.5 c between bids and asks, unlike prior to the recent ann. when the depth was very sound on both sides.
And today I was watching closely (due to my being down in such a short space in time :( )and the broker? was constantly fiddling with the units for sale in top 2 lines...i can't figure why...but there is very close attention being paid to it.
The 20c+ is important as there's a truck load of options that have a 20c exercise which may also act as a (short-term?) drag on price should holders be tempted to cash in, which would assist cash coming in from their exercise!! :)
Otherwise they will need to do a minimum placement/CR to get them up to the PFS.I am sure they will be sweating like crazy to get results announced to minimise dilution in the meantime.
lukim yu
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