The financing was reported in the last announcement as via a 'credit facility'.
Like me as a long term holder when there were only 850 million shares on the register, the big boys who stumped up at 43c for the Dragues purchase would probably resist dilution of their shares which numbered over 350 million. I wonder how much sway they would have.
I see gold is now over $3000AUD/oz. Maybe if hedging is a funding requirement, it isn't too bad a time to lock it in. A few months ago we were happily selling at around $2500 so surely we'd be happy at today's price.
I want to know how quickly we can access Chesney East as we were almost sitting on the sack of gold that's there. From memory the gold was 10m from the drill platform, so obviously a plan, consent?, and access needs to be advanced. I'm hoping the quarterly has some detail about this.
The Federation decline was 80m above the first vein. It was going to take about 12 months from restarting works to product from the mill. So it would be nice to know if we have in fact re-entered the decline. In other words, has the clock started ticking.
The quarterly will be interesting. I'm particularly interested in the sustainability of the current improvement in cash flow. This seems to be a pointer to a much improved performance across all facets of our operations. A good quarterly and a forward looking statement that confirms current performance can be maintained would go somewhere towards restoring a degree of trust in the Board.
AMI Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
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