The question is, why didn't they wait until the release of the DFS and a substantially lower capex. That was the best part of the new DFS, the icing has been the improved sentiment of resources, the rally in tin price, the decrease in tin stocks. All to no benefit for Kasbah shareholders. It does make you wonder why management agreed to this.
If we vote against it, does it mean that management will go out and look for a different finance arrangement. The case for Kasbah was that it was the biggest undeveloped tin resource at DFS stage in the world, apart from Myanmar have there been new tin mines occurring or set to occur? With tin stockpiles dropping to its historically lowest levels, there must be tin users who are pretty keen to get their hands on a sustainable supply of tin, maybe they would pay a premium for that.
I am getting angrier and angrier the more I think about the disgusting deal.
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