BSR 0.00% 1.3¢ bassari resources limited

Devil, What you say about negativity impacting share price has...

  1. 127 Posts.
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    Devil,

    What you say about negativity impacting share price has some merit because of the finance games played. I am not equipped to play that way instead look at fundamentals from my basic knowledge base and prefer a long game. It would be nice if the finance manipulators and negative posts were the only cause of the malaise but it isn't.

    We needed a device (two is smart) to crush the ore. This is not a surgical robot, it is basic mechanical engineering manufacture. Not sure when the order was placed because it coincided with when the line of credit went toes up for a while but once placed we accrue debt servicing costs Clock ticks and dollars evaporate. The intent to procure appears to have been more than 12 months ago but lets allow some leeway for the credit line repair. Recognise also the shipping required transfers and our viable port is not as frequented as most. Google suggests it should take 5 to 8 weeks. Lets be generous and suggest any arrival after July was hard to fathom. But the kicker is that the equipment, on the critical path for over 12 months arrives and there is no foundation built. Honestly:

    "The rebar and cutting and bending machine have been delivered in preparation forthe plant upgrade foundations."

    "Major equipment components of the processing plant have been constructed and items shipped to site, including Ball Mills x 2 and agitators, with other items nearing completion and shipment."

    12 months to build foundations and they do not have the rebar. This is a costly error. Shipment of parts still required Oh Groan, how long will this next lot take and how do they integrate into the mining operation. Wouldn't procure them if we didn't need them. This means the next capital raise will be to service debt and loan renegotiation and further dilute our investment.

    This has zero to do with operating in remote Africa and I feel has much more to do with a languishing SP than games and down ramping. No shareholder in the long game wants to see the price drop through down ramping the stock themselves but folk need to open their eyes and ask more questions. The pace is very hard to excuse on information provided and it is why several have queried the existence of a mythical method of works plan or project schedule.

 
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