Ann: Paulsens Refurbishment Progress - March 2024, page-34

The work is ongoing. They have enough operating cash until the next lot hits. They also have a consistent income from the Paulsens camp and much lower overhead. The market is pricing this wrongly imo. I know it wants certainly, but this rising gold price opens up all sorts of new doors for miners like Bc8 imo. The first $9m came from Sundy HK and the next $6m is due within weeks. Still only a tiny handful of gold miners shovel ready regardless of price.
Management have been to China. The announcement suggests that the equity is due before the stated date. The process has been ongoing and held up by the debt component. That is now old news as an Aussie based debt facility will be much easier. I seem to remember they had that lined up before this, so given the gold price, they should have no trouble getting that. I think the next $6m tells me that the Chinese would be in for $15m and counting. That tells us they are not mucking about. This is why I think the price is wrong. Dyor