I went to the AGM and asked when the trial mining operation would become cash flow positive, the answer was not definitive but reading between the lines it sounds like the installation of the third cone crusher and the increase in the production licence to 40,000 tonne per month are the key as the price paid by CAPS will be a lot higher due to the higher grade ore being produced. So I will be waiting for some positive announcements hopefully very soon.
They did pass a resolution to raise more capital, so I definitely agree with you there. Drilling for the JORC is supposed to commence in the first quarter of 2018 and they plan to build a plant capable of producing 2.1 million tonnes per annum by the first quarter of 2019.
FHS Price at posting:
8.4¢ Sentiment: Hold Disclosure: Held
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