Mick and the band have spent north of $1.1 Mil with the primary objective of securing offtakes (result: nothing after 3 months!) and we now have about $90K left in the bank. In my job if I was given a task to work on for 3 months and I didn't deliver, I'd be out of the job!
So now they project next quarter spend to be: $500K on exploration & Evaluation with a further $300K Admin, setting aside ZERO for development.
$100K per month on admin? Can someone explain how we can rack up so much admin costs? My emails to be company go un-answered, thought I might have more luck here asking complete strangers.
Speaks volumes about how things are going to be until mid of the year. Im gutted, I am a long standing holder here with over 75% of my original investment wiped out at these levels. We need to get the off-take or replace the directors. This has really gone on for long enough without building traction. Another dilution on route - I still firmly believe directors should take a pay cut and be paid with shares from the AIM exchange. Concentrate the proceeds of the capital raised on the development of the projects not director wealth. One hacked off investor
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