el capo and kasbah

I just went back and did a bit of a search of old posts by El Capo on the Kasbah forum. Back at 30 cents he was calling for 10-11 cents as his likely buy range.

At the time his posts were laughed off by most on here.

Well here we are at 10.5 cents and I'm wondering if we can still head lower. Tin price could fall to the $19,000/tonne range by the looks of the long term chart and sentiment in the small resources sector is terible. But long term KAS has a stand out project and I want to increase my holding. Kasbah is also extremely illiquid so it wouldn't surprise me to see it fall sharply over a few day period.

I can't see much of a catalyst for KAS in the short term. We are still going to be waiting another 4 months+ for the DFS and as I wrote on here a few weeks back the cash position is dubious.

Cash on hand at the end of the quarter was roughly $13.6 Million. Quarter 2 expenditure is expected to be $7.6 Million. Assume Q3 expenditure is $6 Million. This means that cash is gonna run out at the beginning of October.

The DFS is due in Q4. Let’s say optimistically in October. Toyota Tsusho have 90 days to pay the final payment after the completion of the DFS. Assume (optimistically) that the money is received by the end of the year and they get their 20% interest in the project.

Seems there is a bit of a cash gap here. There was always going to be some sort of major financing deal likely to involve a capital raising but surely this would only be organised upon completion of the DFS and once Toyota Tsusho are on board?