Ann: Taurus Facility Extension, page-55

My thoughts too. And, equally, why Bluecrest don't just fund it ... they are the largest shareholder ... and have the funds ... instead of just sitting there writing out boring substantial holder forms each time more shares are issued. If I were in their shoes, I would be active (not passive).

If the loan had come through, the share price should have been easily in the 15c to 20c range for starters. And just for starters. The fact it didn't jump to those levels says the market didn't believe it, or wanted proof of the pudding before eating.

With a joint venture (rather than a loan), the value for shareholders will be less (or rather shared between 2 companies) ... but on the plus side:

a) the JV value will likely still be an easy multiple of the current price level, and

b) we may get a more experienced team running operations, since I suspect most JV partners will want to do the operational side themselves. That must count for something.
Personally, I am fed up with these 1 minute to midnight arrangements / announcements that seem predicated upon a belief that magic mushrooms are always just around the corner.

So, I suppose we will have to wait until May 7 for the next installment, and I guess its back to sitting on the sidelines, waiting to see how this game plays out.