Each to their own, but baiting each other doesn't help anyone. Some would see this bank account business as a sign of management's ineptitude, others as an unforeseen delay. Either way it was recently completed and is important and significant in ensuring the financial assets and instruments are in the right jurisdiction to satisfy our lenders.
This I believe was the last hurdle (time will tell if there is anything else buried in the depths of the fine print of the loan documentation). We should see confirmation of the LC shortly.
Today's presentation I would imagine is part of the companies strategy to to support the SP:
1) firstly get company information back in front of everybody (yes this is not just a good project, but a great low risk project with a clear timeline to delivering real cash-flow. Yes, cash, it's not your usual exploration play of identifying a resource, this is a development project)
2) Announce finalization of funding (draw-down)
3) Mobilize drill
4) Spud,
etc.....
- Forums
- ASX - By Stock
- bank accounts opened, awaiting credit line
Each to their own, but baiting each other doesn't help anyone....
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