- minimum $40 per oz in this PRIME LOCATION is a bargain if you consider how much it would cost SLR to explor and prove up an equivalent resource - not getting any cheeper to do that these days so seems to be fair all considered.
"So what is the alternative?"
- a white kight in the wings please!
"discounted equity raising"
- pro rata SPP with attached option is fair to all. I would be in in a flash at 11 cents (same as CN conversion price for SLR) plus some shortfall if available. However, if there is a rescue proposal SP will be higher than it is now so I am only dreaming a possible 11 cent price.
"Call in Ferrier Hodgson? I think you would prefer SLR shares"
- agree to that all day long.
"I suggest you all read the latest half yearly under the section "Going Concern""
- the "going concern" statement been in every annual & half yearly for yonks (so whats new - only a management without any vision). Every junior explorer has the "going concern" statement in its financials these day unless they are really cashed up to the auditors satisfaction. Cela va sans dire - excuse my french!
"This is a serious predicament PRH finds itself in"
- serious but we have something Les probably wants!
I think the bottom line in all this is that the long term major shareholders will NOT allow it to reach a stage where administrators are called in....too much to lose, too valuable an asset.....to much good work been done over the last 10 years! This is not a case of good money after bad.
Geez the freehold Myamba farm and Raventhorpe 80 man camp are conservatively worth $5 - $6m alone together!!!!!!
Did I hear BHP are back in the Ravensthorpe area?
PRH Price at posting:
1.5¢ Sentiment: LT Buy Disclosure: Held
