A gold project still supposedly with an ASIC of $862 and potential income from other byproducts albeit also reduced from previous estimates yet Carbine is walking away. There are a lot of Gold miners succesfully operating at ASIC well over $862.
So we now have a company apparently abandoning the Mt Morgan project, a "left over" Board and a cash burn of $200,000 per quarter. It would have been nice if the remaining Board members had advised shareholders of their plans for the company and remaining cash. I hope the Directors are putting the $200k per quarter to good use looking for a project to attempt to recover some value before the cash is gone - that said the hype for this project and the rapid departure by Chief "Spruiker" Mr James and the other 2 Directors who obviously saw little value in hanging around does not inspire confidence.
CRB Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
