I agree, there are numerous possibilities for their actions.
hen they state they know there is substantial mineralization at depth but they will not be drilling further due to conservation of cash and the inability to access that mineralization for decades, it seems more than coincidental that when it comes time to raise money to pay their share of equity, they start drilling deeper holes that they said weren't needed. Ansteel and GBG already knew what was underneath, but for some reason they needed to prove it and I have doubts it was to do with CDB or Ansteel.
By my calcs, they had over 45 years LOM at the 12tpa production level so I rule out CDB and Ansteel as the reason. Now they have over 80yrs LOM.
If other startup IO companies need to prove up more than 40yrs LOM to access finance, then I doubt any of them will be coming into production!
GBG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
