capital raising

The $18million capital raising announced in late May is taking a loooong time,Zhaojin must not be interested in tipping more money in on top of the initial $2mill investment, and what really happened with Jingu perhaps they thought there was more money in Fake Diamonds than Fools Gold. Wonder who the "several other companies interested in a development partnership for the City mining
area, and other areas, to be advanced" are.

Interesting bit "It is anticipated that a stronger partner, both in mining skills and international dealings, will help ensure the initial re commissioning of the City Mining area in a time efficient manner."

What do we interpret as a time efficient manner in this case? we have been more than 10 years now, perhaps another 10 years should see management into retirement.

Obviously the mining SKILLS currently being employed are way below par along with skills in dealing with international entities. So is the company saying they have no idea what they are doing? They have spent years drilling holes to ascertain the best way / mining method to get the gold out and they come up with nothing more than lets ask someone else. Once again to me it only proves that the only thing they have been good at is mining the pockets of shareholders who have had enough.

Would like to be a fly on the wall at these " Negotiations" with these several other companies, bet they all want a seat on the board before tipping in any significant money and no way does the family want this lest they lose control.

Time keeps on ticking,ticking into the future.

My ramblings and thoughts only, DYOR