re: Ann: TOV: Minemakers Limited - Declarati... seals,
Good post mate, you have explained perfectly how the scenario will play out.
I hold both MAK and UCL and i have come to the conclusion that the only project that can possibly move forward is Sandpiper.
Wonarah, whilst it holds a fantastic long term resource has absolutely no hope in hell of obtaining the sort of finance needed to progress into production within the next decade.
The MAK board if they had any common sense would recognise this fact and commence a review of their financial structure, tighten their expenditure significantly and then review their potential projects in line with the current global financial position.
However this will not occur as they are more interested in protecting their own personal financial positions.
Their cash burn rate is obscene under the current global financial position.
The tens of millions of dollars that we shareholders have contributed to this company only to see it disappearing down a bottomless hole is criminal!!!
Cheers,
dapper
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