Hi Croc,
Thank you for more false news.
MRC is borrowing US$800k, the investors are asking shareholders to approve the option to repay this loan with shares. If shareholders agree there will be more dilution, if it is not, the company will repay the loan,
Anyway, we all know your personal view on companies ironing out their issues, you clearly stated during the weekend, that no one should pass judgement on a stock that is resolving its issues, its only after they have fixed the issues and investors can see if the forecasts match that of the DFS or scoping study can you criticise management and the project.
As you two would know, MRC has highlighted the issues which requries double effcentcy cyclones and better water supply to hit those recoveries.
@Gammat - Yes a $10mil loss from last year, which included the company writing down a value of an asset by ~$9mil, if you add in the delayed shipment of ilumentie which was US$6.2mil, the company would have been profitabile, which is a significant outcome when the plant was only operating at 43% due to the upgrades required to process the inland strands,
No doubt you can look at the feasibility studies to see the forecast profitablility when they hits these numbers.
