Hi Michael, I think most are aware. Ever since that post about “holding back the waters of Bass Strait,” it was pretty clear what the agenda was.
I’m not saying that there hasn’t been some insightful food for thought; but if you don’t hold a stock, and you invest a huge amount of time doing due diligence, just to continually trash talk the company; there has to be motive. If my research showed that a particular company wasn’t worth investing in, I would simply put time and effort into looking for another company that I did want to put money into. I wouldn’t try to convince everyone who did invest in the company, that they made a bad decision. It’s a terrible waste of time for no net gain, and we know how these commentators like a balance sheet.
So yeah, we can see why they are here trying to downramp, while plugging their own interests on the side.
As to the nuts and bolts of the CR… I can’t see why, if you were running lower on cash, you would increase spending on things like the current investigator drill program. If successful, it may substantially increase our resource, which looks attractive (it would still need considerable extra drilling to sure up, a feasibility study to mine etc to be counted as actual resource) but it doesn’t help with the current objectives of getting the mine producing, and providing value to shareholders (which the company directors and executives represent the vast majority of). I’d say the company is doing this because all their ducks are already lined up.
of interesting note; on the 23/1/23 Jacobs, Ellis and McKnight all bought more shares ($320,000 worth) with Ellis buying $240,000 worth… you think this credit raise was unforeseen three months ago? You wouldn’t spend that kind of money simply to dilute it. The directors pouring cash into this is a good sign that things are taking off.
DYOR
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