Ann: Resignation of Director, page-10

Agree. The company will be in production next year, and any delay is meet with over reactions in this market. Some were complaining about doing the funding at 22.5c, and here they are selling it at 17c. The stock was 40c pre funding. Allowing for dilution, its over the top imo. Shaws have a reworked valuation of 55c fully funded, so there is some serious upside in the current environment if you think its all go next year. It is the same groups and investment bank involved that managed 3 other deals in the resource sector before. so its a process at this stage.
This is a bear market in the small caps, and people wont wait for anything. CHN dropped through $2 or suffered a 75% drop in the last 6 months. They still need $1.4b in funding, and will have to seed a lot of the project to get that funding. It also has far more risk on all fronts. Chalice is one of the best discoveries of its type in many years. It is far more complicated and capex intense when compared to many potential projects out there, and the market has walked. Market doesnt care. BC8 is not alone. BC8 is in the pre development stage and markets generally walk until a later date. The only thing that may change in the short term might be a discovery or something out of the blue. We should see milestone funding announcements with reference to the FIRB as we go. I get people not wanting to wait it out. The discount is a tad extreme, but that is the market at the moment. They have stated that efforts will be put in to bring this forward if it is possible. Very hard market across the board in the smaller end, and if one doesnt get the funding sorted while it is there, then things can only really get harder for many companies. Small pool of available money out there. dyor