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08:18
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Originally posted by donnybrook:
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Lowkey, the word 'studies' to me implies engineers looking at plans, not actually getting in there and constructing, or up grading. I was under the impression the mill needed upgrading and some alteration to permit the production of gold as well as retaining the ability to produce nickel. I have to be honest and confess to some bewilderment that the Board have seen fit to raise money from institutions and 'sophs' to speed up the process of bringing this mill online. With the POG at all time highs and well above the price of $3600 deigned by the Board to make the exercise very profitable,I'm at a loss why we've had to raise this money and dilute our shares. The amount of money we should be banking should've made that unnecessary, in my view. As others have pointed out,getting all that extra money in the bank and pushing up share backing would have been a much more share holder friendly path to take. Instead the Big End of town get gifted 'el cheapo' shares and leaving our share price sub 4.8cps. With the prospects HRZ have, and the money they are banking,they ought to have been happy to put $$ in at 7-8cps share!
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My best guess is if we can successfully vote down the second tranche, it will do lots of good for the company's medium and long-term. I too feel the raise timing is mis-manged.
(20min delay)