i did end up getting a call from the md. Andrew did say that it's been hard yards trying to find a backer but he and the team are working hard hard at it. Although next phayse of drilling has not commenced, they have their drill plan ready to go and the new money is intended to fund the drling in the new year. He also said that management are serious about progressing the company's prospects and believe in it, which is why they have all taken a paycut (i know I've read the report...). he also said that their focus is phosphate and that the intent is to move costs of the uranium tenements onto other company books whilst still retaining the rights. lastly, they are looking at further testing of the uranium resource on the quensland border as it looks very rich at this stage. he stressed that the cost of exploration is amongst the lowest of all peers and that all coys in phosphate have had a similar percentage decline (i don't agree with that entirely).
he also said that the reason he returned my call was because he saw my post on hc and that they monitor hc all the time and the coy has a policy of returning calls.
although I'm grateful for the callback, I'm disappointed that all our comments for the past months demanding an update from the company, although read by them, were not responded to. however i invite you all to call Andrew, hear what he has to say and make up your own minds.
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