Hi What-The and all, “To be eligible, a shareholder must...

Hi What-The and all,


“To be eligible, a shareholder must participate in the Company’s fundraising activities during the 2018/19 financial year. Only new shares issued by White Cliff will be subject to the JMEI scheme.”


Historically this company has had an annual burn rate of shareholder cash of around $4,000,000.00 if they intend to do something similar in the 2018-19 year that’s going to mean an awfully lot of shares will be on issue even if there is a minor tax advantage.

The company is going to need to make some decent announcements in the coming weeks and I doubt a re-hash of old news or a fresh look at old results will cut it! One single CR for the $4M or 4 x $1M CR’s could amount to the same level of shares and one would have to expect the inevitable reconstruction!

One may wonder if keeping a crew on board in KR with no drilling this year is the best move; possibly this would be a good time to try and find a buyer. Almost half a million ounces of Bonanza grade near surface Gold amenable to simple mining methods with only 5% explored should have some value even in today’s market. If this one asset could be sold it may spare the current (sophisticated or not) shareholders from these low priced CR’s and it would allow the company to focus on some of it’s more interesting WA properties.

Selling the Aucu prospect may also allow for bringing on board a new director with some new idea’s for advancing the company and shareholder value. Another $300,000.00 PA is not such a great deal in the overall scheme of things.

The Cobalt price has dropped a little lately; however, it’s still at a respectable price and I feel it will be in demand over the next few years given the amount of batteries required for the electrical vehicle industry.

https://tradingeconomics.com/commodity/cobalt


I still recall holding those Gold nuggets in Todd’s office and can’t for the life of me think why they don’t look further over the ground they claimed they where found. Visible Gold is normally just about as exciting as it gets for an exploration company in my opinion and they were certainly visible.


Of course, once again just my thoughts and opinions and not advice of any kind.

Cheers and very best regards: Andy