To me as a current holder, I'm relieved all motions were passed and none were withdrawn.
This should be positive for the SP when the Suspension is lifted. The suspension left me with the feeling one of the motions was going to be withdrawn.
The new capital raising, outside of Sinosteel, would have to be to restart exploration, if anything.
Surely they now have enough money plus income from the NCu DSO "soon" to get the plant commissioned.
If the money is now enough, then exploration becomes very important, as the high grade Cu is only going to last a couple of years. Other areas of NCu and good grade sulphide ores are going to be needed to keep the profitability of the operation going past the first 3-4 years.
WM can hopefully get back to doing what he is best at, prospecting!!
Having a $10-20m exploration budget could do wonders for shareholders, because once the jewellery box is gone, then this is no better than HGO without further high grade areas to mine.
Add to My Watchlist
What is My Watchlist?