Sadly, I was of the opinion that the Delfin deal was way too sweet for any of the parties to be able to walk away from.. Clearly there were some serious constraining issue that couldn't be resolved... and walk away we did....
Having said that and not to go over all the facts once more, in what world can anyone expect that the amount of real work in the past six months amounted to a DD of Delfin and a small look around at Berinka ??? They have 2 prospect and an acquisition deal on the table, hardly what you call a massive amount of work in front of them. In the past 6 months between director fees , the costs of employees ( if they ever did exist ) and the other costs of the DD, we would be pushing $300K plus, more than the initial payment to Alcamantoz... Try explaining to me and other SH that whilst this 6 month period was passing, no other work could be carried out.... No work on Newleyline at all !!!!!!... Berinka is basically , " do it or lose it " situation..
For those who go on and on about our wonderful prospects at Newleyline and Berinka , one simple question... If they were in fact that wonderful, why are they not being advanced ????? Maybe we don't have enough money in the bank. The story so far over 2 years Forget Berinka we have Newleyline Forget Newleyline we have Delfin Hey remember Berinka ??? there may be all sorts of resources there Not a single word on Newleyline... seems very little interest in what we know so far
THIS is NOT the resume of a management who should be put in charge of $17M in cash . Reality is unless management pulls a rabbit out of the hat, and soon, they cannot survive... Won't be you and I in Hot Copper doing it , so don't stress .
MAN Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
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