Brazil was the "ace" up his sleeve. The whole point of this...

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mho25

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18/12/24

02:00

Post #: 77095588
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Originally posted by mrplough: ↑

I seriously hope Eric Vesel has something better than that up his sleeve. It would be a disaster the way the SP has gone this year.

Finding a key investor (s) / offtake partner / a company established in the area already, who's interested in a JV, in it for the long haul, would be a way better solution.

If he has no choice and goes the worst way possible (and it looks like we have only a quarter of funds left in the kitty), then what are we looking at?

Burn rate of $2m p.a. for next year at a guess, if exploration isn't dialed back? How long is it going to take to get to a PFS stage in Brazil for CODA say?

Roughly 1bn shares on issue, $6m MC. If they did a $1m raise at 0.5c now to keep the lights on for half of 2025, it would mean another 200m odd shares issued.

Would there be any takers for our Charley Creek tenement to raise funds I wonder?

What other options are there?

I'm trying to be a realist and think of positives! We seriously aren't getting much love from the ASX casino right now.

Let's hope Eric has an ace up his sleeve. You'd think with the NED's high up Malaysian connections he could come up with a plan which doesn't dilute us to high heaven.

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Brazil was the "ace" up his sleeve. The whole point of this expensive adventure was because they gave up on the mineral sands project...

ENV Price at posting: 0.6¢ Sentiment: None Disclosure: Not Held
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