Hi Stock 12345I did reply, but for some reason it didn't...

Hi Stock 12345
I did reply, but for some reason it didn't upload.

Basically what I said was: I think it's closer to home. Ever since Sept 2019 (GXY sale) the SP has fallen 50%.

The cost of the Phase1 Plant, ancillary capital inv and infrastructure update and modernisation, at Namibia and ICAD, will drain funds.

After the half yearly report stating cash on hand at $3,663.718, and being more than halfway through this qtr will leave less than $3 mill.
And as was pointed out to me recently, a cash burn of $750,000 per qtr (given that the release of the DFS will slow down the rate of spend -- it may or it may not, yet to be seen. Always the unforeseeables. Anyway, that will leave the Coy with less than $3 mill. In twelve months at $750,000 cash burn funds zero balance.

A cash raise of $10 mill with a share price in the sub 1-cent will be a mammoth task, even $5 mill will be difficult and insufficient to encourage financiers/cornerstone investors to risk funds for the build, So, even on a C & M program to conserve cash is going to be a major challenge.

Finally, as my mate S..Y said recently it's probably time to take a break, which I've decided to do for a while.

GLTA

cheers
My bearishness hopefully dissipates. LPD so much promise?