AIS 7.41% 25.0¢ aeris resources limited

I agree with you about getting Constellation up and going ASAP,...

  1. 4,836 Posts.
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    I agree with you about getting Constellation up and going ASAP, everything to fill the mills in the Cobar region to get some cashflow. Stockman will be years away with government permitting and Nimby-ism in the alpine regions of Victoria and even Mt Colin is small scale and not a huge money spinner.

    Obviously WHSP/SOL got no interest from anyone to buy the Round Oak assets for years, and they folded it up into AIS thinking that they don't want to run mines anymore, and want to give it to a company that has expertise in mining in order to make a mid tier Cu-Zn-Au miner right when underground mining costs went through the roof, and the price of both Cu and Zn sagged. So bad timing, bad cost control, bad management and lots of dilution mean that everyone is an AIS baggie at the moment - even WHSP.

    Some tough decisions for the Millner family/WHSP/SOL, they can't sell this to anyone at current metals prices and performance and its sucking up money and not producing profits until metals prices improve and/or costs come down. If it all goes under then SOL end up with a bunch of unprofitable base metal mines again - exactly where they didn't want to be when they owned Round Oak They are very patient investors though so maybe their plan is just to tough it out? If that's the plan - of toughing it out and endless dilution, then that's a pretty unattractive proposition for less patient investors who don't have investment time frames in the multi-years and decades.
 
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