Berger was ousted for failure to deliver - simple corporate world play.
100% ownership relates to 100% tenement lease (a rock solid everyday mining lease arrangement) - that is no farm in - no other previous tenement holder farm in - no partnership.
We are not back to ground zero. - We have 100% ownership of an extremely valuable tenement/resource - proven JORC. Critical approvals that can take years - some 80 mill spent. - Original stage 1 would not have been completed until final quarter 6-7 months with Chan components. - Then 6 months production at no profit due to acid supply and costs and only producing 1 commercial product - at a loss. - Minimum 12 months wasted and a lot of monies completing stage 1 + employees - hence Berger gone. - That 12 months will now focus on delivering a bigger resource to assist securing option 1 or option 2 finance along with US listing. - All the while new optimization - benification improvements will occur along with product produced for end users AND sales agreements from mou to binding. - All the above in 12 months. Build much larger and profitable operation from financiers - debt paydown much earlier - not share holder dilution - Improved plant components Italian - improved products/more value - additional 10 year mine life? - most likely solar power plant to not only save costs long term but to appeal highly to end users - neigh sales markets.
I can wait. Bottom appears - now await bounce on next 12 month news - project build (12 months?) - absolute cash cow.
Get excited look at RIO'S project up the road - look at bkkmike post. Finally company recognized failings and a team assembled to deliver $3-$4-$5 upwards and onwards.
ABR Price at posting:
$1.32 Sentiment: None Disclosure: Held