This is not a good announcement. This is the bare minimum announcement that should have been happening for months
A good announcement would be
A) Sale on NE for USD $50m cash
B) $35m Thai bank consortium loan secured.
C) Kingsgate announces buy back of up to 10% of shares.
I wrote to the company yesterday and made it clear. I am not happy that they do nothing about not having finance and doing nothing about a capitulating share price when they can actually be doing a buy back.
It's a sad state of affairs that will only see the SP do anything descent after plant 1 is finished in January or February next year and when we can spend revenue on a buy back. Until then, do not be surprised is we test $1
This is not a good announcement. This is the bare minimum...
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