This end of the market is a tough, very tough one. Barry Fitzgerald released a report today on another company and discusses the pitfalls of this end of the market and dilution of shares due to capital raises etc .
So what is better than having a over 18 months of expenditure in the bank, its having someone pay for all the expenditure just like we have for our JV projects. Not only that but we receive 15% admin fee that will bolster our account and pay a lot of our costs.
A Peru JV on similar terms would be a great announcement (Not on Friday afternoon) there are some hold ups in Labs looking at assays, so we all have to wait until we receive them. What we do know is AQD is not aleaky ship in relation to results and Graeme runs the company with integrity.
That saying is clearly 1 of the reasons that S32 continue to be JV with us .
This end of the market is a tough, very tough one. Barry...
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