Let’s just get the CR over and done with....this will need to get worse before it gets better. I just wish that management would let us know what the plan is, and what is going on with the EIS - this is my next major milestone, I consider this a bigger risk than finance. Finance will come inevitability i feel, but the EIS could derail the project. I figured an announcement may come out today (I thought there was some unusual buying yesterday afternoon), and had hoped at least it would provide some clarity as to where the project is at and what we should expect over the next month or so, but unfortunately, the ‘sales pitch’ has not provided any clearer a picture. I can appreciate management getting some information out in the domain to attempt to capitalise on the recent interest back in the sector, but a random ‘here’s what we are planning’ didn’t hit the mark in my view.
As other posters have noted, they are probably holding off on additional estimates for lees booth because of the money owed to LTR (that we don’t likely have at the moment), but geez it feels like we need some real data to be released - I know we had the DFS, but I really want to hear about the EIS and I will be happy to throw some money into a cap raise if they can get started on mining and then do more exploration as we start getting funds coming in - I think at least starting excavation would highlight that we are moving forward and will likely attract more finance.
This projects biggest strength is the timeline - it will beat all the big players to market by some years, and this is what they should be selling. I had a look at the LTR preso today and it is 3 yrs to payback (from a scoping study) and probably 2-3 years from beginning mining - this made me feel better about CXO and the much shorter timeline to mine - I want to know if our timeline is still achievable, if it is, sell that!
CXO Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
