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Why would we be the dead WW1 solders if we just keep holding for...

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jvdke

91 Posts.

15

23/03/22

05:51

Post #: 60355759
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Originally posted by glendronach: ↑

Patience wearing thin. But when I see MC sitting at a ridiculous $50m balanced against proven certified reserves and huge potential I just gotta hang in. Problem is I am so old I might be dead by time this project gets going! I have drunk far too much Glendronach and beer chasers over the years. No EXIM draw down until they find equity partner means we have two fifths of sweet FA till we find one. SP goes much lower opportunists and vultures like Glencore may take us out just by dipping into petty cash. Pity more drilling not done to increase proven reserves. $4m in cash - they spend about 1.5m in staff, admin, interest, say $2m in exploration/drilling and they are responsible for EXIM DD costs - so we got maybe a year if we are lucky.

Time for a wee Glendronach - I need some comfort and come back in six months time if I am still alive. GLTA believers - my gut feel is we will get something out of it. Someone big will mop this up. But strongly suspect we will be like the dead soldiers in WW1 lying over the barbed wire fence with others running over our backs into battle and acquiring the bigger piece of the pie after we have done all the softening up.

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Why would we be the dead WW1 solders if we just keep holding for another while?

IBG Price at posting: 3.5¢ Sentiment: Buy Disclosure: Held
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