assay results are all that matters..., page-40

from Articulix ,
Hi Everyone,

First off want to state this is not a down / up /left / right ramp comment, so if you are searching for a chance to flame or jump on bandwagon then go on your merry way.

I also have read many topics about conversations with Kate, so if you want to believe / disbelieve this post again go on your merry way, im merely here to share some bits of information with you.

1. Rights Issue - Share purchase ex date will be announced once the prospectus and all necessary legal documentation has been finalised. It will not be a date in the past prior to the annoucement. No date on when this will be finalised, but said near completion take from that what you want.

2. Rights Issue - I questioned the terms of the underwriting agreement, specifically the out-clauses or reduced price clauses and if / when we can view a copy. She stated it will be a part of the prospectus document sent out to and like any underwriting deals of course there are exit clauses etc. they are afterall there to do a job.

3. Drilling Results - Stated to me that no results have been received, even though I have heard elsewhere she stated they have 1 drill hole result in their hands. She expressed her frustration at having to constantly advise the market on dates she is given and then miss those dates. It is a situation in her words, which I believe since my step-dad runs a private exploration company that its simply the large companies being pushed to the front of the queue over and over again.

I asked what the plans of management are regarding this issue, what other options are there available to get the results interpreted. She stated that there are options they are investigating in South Africa, but said that its difficult because will be obviously more costly and still might not be recieved within the month.

Asked when is the line in the sand to make a decision to go with an alternative company, is it end of May? Kate stated that the company can not wait until that long, since they already have a bunch of contracts awaiting the drilling results. My guess here is the sales contract, asset purchase, logistics, mining etc. She did state however that alot does hinge on the results, even though they have everything ready to go to start mining they still need to know if its commercial viable to mine there i.e. the results.

4. Future Drilling - she stated they are investigating setting up there own drill result interpretation outfit in Africa. The cost will be $100,000 but it will guarentee results on time.

That is all folks like i said no up down sideways ramping, she did seem completely truthful, im sure she was bending some bits in favour of the company that is afterall the job of a CEO to market your company and make it attractive. There is no doubt an issue with getting the drilling results and the impacts that it could have I could only speculate if they are not received end of May.
From Sheik :
I just called her and everything is on track. Drilling results could come tomorrow, next week or the week after. She is waiting on the results to come back so until then everyone will make assumptions and the price will fluctuate
from:UnclePanda
Company Update: They are currently finalising a number of documents including a notice of meeting to seek shareholder approval for the transaction and the rights issue. They expect to go ahead with the acquisition very soon.
so is kate a big LIAR or are some people giving misleading informations?