Originally posted by IceyDoctor
I guess I was wrong about there being people here who knew something about the drilling and reserve definition process. It seems you are less able to answer questions from interested investors than to blame your woes on RMS, and some poor german engineer in the report who said something you did not like. We ask questions and get the same old excuses.
What about production in 2019 ... I thought even EXU were saying development in second half 2019 production maybe 2020, certainly that was what the independent experts said. What about the financing? What about the risk?
All you have are drill results, which have some good streaks but collectively only show to me that the people responsible spent a lot of money using the wrong tool for the job... How is the next $8M going to be any different? How much will it cost to get financing without a resource if it is even possible?
Surely those invested in EXU for the long term must have considered financing costs, with or without risk assessment? What is it going to be dilution or interest ... and how much? Why should I buy now if the financing is going to be so prohibitive? Before it was quotes like the share price will be ... when the Mace reserve estimate comes in, but now it looks like you can not do that with this gold deposit. I see no reason to buy until the share price finds a bottom after RMS pulls out and funding is considered for the BFS.
That would be far more helpful than just blaming and insulting the only company that has managed to put some wind in your share price this year ...
I am a humble investor and not a geo or a mining engineer. it is great that the HC community has identified that Sonic Drilling is the way to go. Unfortunately, the HC community does not manage EXU and I cannot recall that being noted in any EXU announcements to date?
I also have noted the “excellent” Mace result and then......I look at the share price after the announcement. I also suspect that EXU has a huge challenge ahead to even get close to securing Project Finance.
Accepting the RMS offer of 1:4 shares is something that a prudent investor should do. The series of missed self appointed deadlines were well and truly before RMS launched its bid.
When RMS canned the sweetened offer I initially thought that the offer may have been a ploy exclusively used to get a look at the assets, however, I now believe that the offer was in good faith and that the due diligence highlighted the over promise and under deliver fundamentals of EXU.
The RMS offer is by far the best option for EXU shareholders.
