AHK need another 12 month extension past the current 12th of...

AHK need another 12 month extension past the current 12th of November expiry. Even if they get the extension tomorrow, mining is unlikely to start for at least another month. So the million dollar question is "will they start mining in 2017?"...........my answer is "Not this year!" I just can't see them handling oxide material in the wet.

So going to my slide-rule on penny stock promoting, the next faze will be positive news flow to hide the negatives.

AHK had $1.9m at the end of March, so the only way they can get positive news is by doing some drilling. Ideally to add ounces and grade, most likely to hit what they already know, so as not get any more possible surprises (LOL).

The Chinese Dragon in the room is the repayment of the loan in gold..................due 4th August 2019 "subject to early termination"

Lets hope that this amateur hour management team, have the swords and armour in place to fight the Dragon!! Least he comes in smelling a kill. The details on the Loan are very light and it'd be interesting if they can call the loan "subject to early termination".  

On 5 August 2016 the Company announced that it had secured a gold loan facility to fund its Mt. Porter gold mining project near Pine Creek in the Northern Territory.  A USD$6M (six million United States dollars) gold loan facility (Facility) is being provided by Chan Investments Ltd (Hong Kong registration number 2277478) and arranged by Panasia Ltd, also based in Hong  Kong.  The Facility will:

be secured through AHK assets including a mortgage to be provided over ML23839, which AHK has acquired from  Arafura Resources Ltd (see AHK’s previous announcement dated 20/06/2016);

be repaid in gold bullion, within the life of the mines for which amounts are drawn down

and not require AHK to issue any equity securities to any person