What can holders look forward to at the November AGM with 6M options, from memory, going to Tulla Resources that virtually voids out all existing previous options along with a generous interest repayment rate. Do holders get to vote on this rate let alone the options???
Now, if amazingly QMN manages for the first time ever to generate $$$, besides interest and or cap raises, to pay back the $3MILLION in about 10 months time, LOL, then its more shares to Tulla, thus a disguised cap raise?? But really, shareholders are lucky that Tulla Resources has faith in the board. Really!
Then there are the 1M options to CK Locke in their disclosure to be included, and I think I read somewhere that Goldsearch might have a 'few' shares and options due their way once Duck Creek is drilled?? Perhaps not this time around but you never know as to why they have focused on Duck Creek again, maybe it was just the current gold price, was there a time limit on this original JV??
Based on current cash burn rate their might even be another 'small' cap raise included in November, always just a 'small' cap raise maybe lazy $3-4M based on previous, just to get 'through' the 'next' quarter.
Im waiting for the next carrot along with a drill result here or there, maybe even asking loyal shareholders to contribute to the cause, some more! I suppose it might depend on the spiel holders get in the meantime about how 'close' they are to another 'in discussion' JV??
Time will tell.
Who rates it a buy??
QMN Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
