In time, this is going to be viewed very +ve'ly. Right now, am sure we all feel a little dudded however holders / analysts will shortly absorb this, accordingly. It is quite significant and a different take in its entirety from what has been transpiring in the past.
- We have cleared all debts, keep $10mill for continued development into the IO bussiness
- IO bussiness now looking operationally sound, cashflow starting to flow in.
- "Potential" continued exposure to Lithium for future earnings.
- Michael Clarke and team in Chile have remarkedly turned the admiralty around in one single year. Obviously doing a fantastic job.
- ~$40mill expected in Feb or otherwise $100% ownership of Vallenar come February 09.
- leaving ~$50mill for expansion.
- Customers (WISCO) very happy with IO and want continued and long lasting exposure via JV. (I think we will hear a lot on that activity very shortly)
This article (http://www.minergia.cl/index.php?option=com_content&task=view&id=884&Itemid=2) from Chile (oct 08) explains recent developments and the plan going forward. Intentions to get to 8mt pa. A plan that otherwise I would have dismissed as short as 1 yr ago, however I now completely believe can be achieved through Michael and team in Chile.
My only concern is the market cap dilution that has occured over the past year and bit through placements, etc....could have been avoided as it now turns out.
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0.6¢ |
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Mkt cap ! $15.77M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 50933 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 4242345 | 2 |
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| Last trade - 16.21pm 10/09/2025 (20 minute delay) ? |
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