BSR 0.00% 1.3¢ bassari resources limited

Yes most had given it up for dead and we are still in with a...

  1. 126 Posts.
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    Yes most had given it up for dead and we are still in with a glimmer. Thank you to our new Board.

    It is, by degree, reassuring to see we secure lines of credit at 15% interest because it kept us alive. We are paying off debt and recovered enough stakeholder confidence to see the licence extended - Awesome. Securing money and extension was Herculean but it is only part of what we need to see. The ASX relisting was hopeful for January now its hopeful for April . The biggest cost here is time. The Coris problem was caused because we didn't achieve a move to mining and never even came close. From this update getting the gold out of the ground still almost appears to be an after thought. Relisting and finance are huge positives but it seems there isn't enough focus on how debt is ultimately serviced - real gold.

    'Plant and equipment procurement recommences.' stalled - ok understood but WTF else does that mean? The civil works to install it. Is this equipment procurement now a comprehensive holding or do we need more? Will the civil works and equipment get us mining in time to pay the Bishop debts? What is the risk with incomplete Chinese sourcing?

    The report identifies we need to raise more money to get to mining. We need to know what for, how much and whether it will get us mining in time? extra equipment, realistic civil works or just to extend debt? Secured funding got breath back in a cadaver but now what do we need to actually mine.

    If the importance of mining is not emphasised we are ted. The reprieve we got from huge effort of the new Board will be short lived.

    I know this might appear harsh after such great progress but its a plea to demonstrate emphasis on the move to mining. Or at least tell us what is required to get there. No one will express surprise to learn its an inherited cluster, nowhere near ready, as we were already fed tripe before takeover. Just tell us please or demonstrate its an important part of the critical path to success.
 
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