Originally posted by chuchutv
Mate no offence but we are not far off a CR.. to last another year we will need to raise a minimum $10 or $12 million at a discount of the current price that would add another 800 million to a billion shares to an already bloated register for what point we are at....not mention we need to raise another $85 million to build a mine and another $10 to $20 million to feed the machine while we are waiting to production....ever thought how an institutions would view us right now as we stand...the instos are the guys that normally do the heavy lifting to build mines not retailers like us....have a look how little institutional support we have compared to others im happy to supply documents for everyone to see.. .regarding share price you shouldnt say" i wouldnt worry about it" cos you clearly dont understand the logistical nightmare of building a mine and getting production to name plate....dont forget alot of people bought sub 1 .i dont know how much exactly but it would be alot..some sold but some still hold..what do you think will happen if drifts lower to their buy in price..the mother of all dumps will hit us because who wants to be in the red..it seems the fixation is just on BAPE but we gotta look at the whole picture...biggest support currently will be at around 1 to 1.2 from my memory long ago..
I can understand your concerns. But as others have suggested we won't need a credit raise for a long while. Why would we need to raise 10-twelve mill when we're just sitting idle waiting for environment and mining licences. DFS is done. Directors won't run through our 7 odd mill.
In the mean time we'll hear about..
1) The BAPE decision (could add up to 7 months to timeline). But it's not really a concern as the cabinet makes the final decision anyway and this newly elected government is on our side. The new environment minister has a degree in engineering and has been involved in large projects during her career. I have faith in their decision. Mining licence will take us up to September so BAPE shouldn't alter our overall timeline too much.
2) A decision on the downstream processing which will add a large upside to profit in future.
3) Drill results from PLS at Mt Fransisco where we have a very large tenement next to theirs with 1.7km historical pegmatite outcrop (based on PLS announcement).
4) MOU with large Chinese company being converted into a binding agreement (dilution at this stage when they take a stake in the company).
5) Purchase of long lead items.
Then when enviro and mining licence are granted we'll work out how we will pay for the mine. When you work out what the share price is at this point in time only then can you work out dilution to the company. The directors of SYA have learnt a lot from their other AJM project. Rinse are repeat for them after approvals are done.
Also if you look at the graph as others have done but now over a longer period of time you'll notice a classic zigzag formation taking place. I have take the curtesy of extrapolating for you. It's at this point you should DYOR as I am no chartist
Have a good one,
NN
(20min delay)