Theres little doubt they will have to draw on the facility or other means of funding ...... CR, never say never.
Despite earlier posts suggesting no need for a CR at this stage, I have to agree with the above comment and yesterday's rather mysterious presentation didn't help. The key IMO is Far West and if as you mention it loses money this quarter, and that certainly can't be discounted, things can change quickly underground, then our cash situation could be close to zero after royalties.
If that was the case then it really becomes an issue of whether the BOD is prepared to use the facility with a weak balance sheet and that's far from certain, Mel doesn't like CR's anymore than we do but its possible his hand maybe forced by circumstances.
One thing they have is a a day to day understanding of where things are at with Far West and progress at Hillgrove so will have to act on what they are seeing.
We will see but as you say you can never say never unfortunately...
Cheers Whisky
RVR Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
