Not happy with the dilution
But they needed to de risk the Windarra start up & looks like LJ as well
At least we should have some cashflow early in 2015 & that will hold well with obtaining finance of ????? for ??????, as shareholders - although new have skin in the game of $30M
Now it's over to management & the Directors to make sure first ore is actually delivered at minimum of 350,000t +++ pa to BHP early 2015
What is the actual NP on the offtake arrangement
Also - no announcement on the gold tailings sitting at Windarra 183,000 ounces ??
Could this be very cashflow positive ? & what is the capital cost to process the gold ?
Additionally - have we got ore stockpiled at Windarra & LJ ready for processing ? & if so , how much ??
If the Nickel price holds or advances , we should be in a great position & no one will care about this dilution
So over to you David S
DYOR
Ann: Completion of $30 Million Oversubscribed Placement, page-42
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