Nij, it’s almost 2 years when I spoke to RT in Noosa, it’s...

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GT55

4,308 Posts.

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19/03/20

11:09

Post #: 43578586
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Originally posted by Nijiman: ↑

I have been incredibly critical about some of managements decisions.

But to say that R.T should have raised $20m+ 2-3 years ago for production is a totally unrealistic statement. A time when they were still drilling at Southern Nights. How on earth could a cash raising of that magnitude be achieved let alone justified when no one knew the resource tonnage involved. Whether it would ever be an economical proposition to mine.

Mallee Bull also fell into that category. It has been revealed from the PFS that further drilling is also needed there to shore up the resource. As it stands at this stage it is not a go alone prospect. Then there is the added problem with the M.B jv partner. Who have recently ( pre corona ) shown themselves to be reluctant to move towards development with any sense of haste. In fact it appears from the actions of CBH Toho that they are actually not that interested in partnering a development of M.B.

We can all be Einstein with the benefit of hindsight. In fact i have never ever lost on an investment when i use my hindsight powers. They have all been lottery like winners.

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Nij, it’s almost 2 years when I spoke to RT in Noosa, it’s exactly what he was trying to do then, raise $20 million and start the decline. I assume there was not enough interest from investors or your JV partner in putting cash into a decline to start exploration drilling again 700m down.
So SH cannot blame him for not trying to raise the $20 million.

Cant believe the SP is almost single digits again after all this time.

PEX Price at posting: 11.5¢ Sentiment: Hold Disclosure: Not Held
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