CSD (ASX) Ann: Suspension extension-CSD.AX

If were out of cash why doesn't Ralph put the ARM loan facility back on the table?

No confidence going forward? It would buy quite some time....

SPM has been operating for at least two years. Obvious to all making a profit (although we dont know how much)

Now that CSD is in operation suddenly we've got no cash.......WHY?

Dont tell me Martin Cai and Alex Tsoi who in conjunction with mr Delacey set up SPM (for SPI) were operating at a loss for such a long period! I doubt SPI wouldve allowed that nor followed through with the transaction. Which still hasn't been finalised by the way.

So anyway we were told $20mil loan with a guarantee from Dadi Investments (chinese bank)

"The funding will strengthen the position of CSD by allowing consolidation of debt, working capital to restart mining at Surveyor Mine, associated mining and processing improvements, continuing expansion plans within the highly prospective exploration projects and continuing the tin project development." Company Update - 17th March, 2016

It seems to me at a time we should be about to have a finalised agreement and be sole owners and producing we could be about to inherit debt. (just how much, who knows?) BUT, we have no cash to pay for this debt. SPM's profits and expenses/ debts have been kept from shareholders due to the (private company) thing.

Without the debt it would appear csd could just keep going, chugging along, paying employees and contractors just as SPM have been doing all these years.

The thing that sh!t$ me is that who ever is involved can just hide behind SPM being a private company all these years and possibly make a huge profit and then leave CSD with a possible large debt. Effectively shafting shareholders.

Finally, FIRB must either be approved or denied at this point. Whatever the result, im sure there has been one! Market sensitive information we still do not know about. Just like the market sensitive information which arrived well after its mining assets were "held in a maintenance shutdown" and "exploration programs on its permits have ceased."

Weren't exploration programs conducted by Wanguo?? Why have they stopped? Were not paying them? They find the dirt then receive payment for their efforts. Plus they're asociated with SPI/SPM arent they? at least until the deal goes through.

A lot of questions here Ralph n Co, not a lot of answers. And its been like this for years.

But as many have said here, the Chinese are good people they wouldn't shaft us. Ralph too is a good decent person. I look forward to seeing these character judgements fulfilled.