Sector,
I value your posts and find many of them informative, such as your post on the current value of the company in relation to the proposed exploration capex.
However, having owned and run a few businesses in my time, I can humbly say that IMHO it is much better to run one with good cashflow than trying to run one without it. Cash in the bank keeps the wolves at bay and gives you options. No cash in the bank and you become the pawn of others, forever chasing the next source of income and if you dont succeed then you potentally end up offloading assets or you are releaved of them.
In my posts i have always aimed to give a balanced view as i believe in the potential of the company, but if finacially it does not look like it is making sense then i will question it. To me atm where the future cashflow is going to come from to our meet our J.V. obligations is as clear as mud.
I do hope that you do not take the above post as a personal attack but perhaps the start of a robust.
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