Ann: Strandline agrees to sell Tanzanian mineral sands assets, page-29

This announcement only buys STA some time and solves an immediate "wolves at the door" problem.

Unless there is a miracle and prices suddenly double for their HMC, there is no viable business model just mining and shipping HMC. They must be able to get to higher value products and have the Mineral Separation Plant (MSP) operating effectively and efficiently.

I have yet to see any evidence that they are anywhere near getting the MSP operational at this stage. Maybe this funding may help them do what is needed to get it operational, but there was certainly no mention of that in this announcement.

At this stage, they remain stuck in the "crawl" phase of crawl / walk / run, in just trying to demonstrate an efficient basic mining operation.

Unless and until they can demonstrate a viable operating model, there is no way that they can reach conclusive ongoing agreements with their financiers, nor raise the material level of fresh capital needed to restore financial stability to the business. Even after receipt of these funds, this business is operating with very little margin for error - it still remains an enterprise that could easily be "tipped" by its lenders at any point in time.

I would love to be optimistic, but unfortunately on the basis of what they have announced to date, I think that 2ic's assessment is probably closest to current reality.