Phil, I like you & probably a number of us here, are a good six number figure down which doesn't sit well. But if it takes even another 6 months to raise the finance on acceptable terms for SH, then so be it. The fact that the consortium is strongly considering providing a junior with a 9 figure sum in this depressed market is a feat in itself. Another junior struggler - Balamara (who have Thermal Coal assets in Poland with low operating cost they say but not at Pre-Feas) are going to de-list from the ASX as they cannot raise ANY money. 'If the current negative trends continue, the Board believes that the impact of raising capital over the next 12-18 months to bring the Company's flagship Mariola Project into production will result in an excessive and unacceptable level of dilution to existing shareholders.'
Despite my initial whinge when PJ raised some @ 22c, just as well he did in hindsight so keep whackin away PJ and get this across the line for all our sakes. Still would love to know what that deal that was put on the table for finance that we declined - how bad does that look now ?? Been here 7.5yrs, half way through the journey as I see it. GL LT's
RES Price at posting:
9.7¢ Sentiment: Hold Disclosure: Held
