Unfortunately, exactly what I feared. Brownfields exploration. Why do this when we have insufficient cashflow (due to not yet having achieved the previously stated production targets) If we were operating at c.20ktpa and bottom line earnings became apparent, we already have many years of resource available. Whilst juniors need resources we have been told we have plenty. Why attempt to discover and prove mega resources that you are already struggling to sell. Fix what we have, fulfil plan A, then, think about throwing money at plan B. I can see yet another capital raise coming soon. My guess it will be Sub 1c and we’ll end up with more shares on the register than an ALP deficit. Interesting that this (non) announcement is just as disgruntlement by shareholders is becoming apparent. How this announcement of very little value can be made and previous information regarding targets/strategies have not been forthcoming brings the cynic out in me.
BSM Price at posting:
0.8¢ Sentiment: Sell Disclosure: Held
