Is their company fair value at $16m?
Why do some of their shareholders believe it should be valued at even more?
As I see it:
They must just about be running on empty in respect of their working capital needs.
So a fund raising to survive is very likely.
They have an exploration programme, so that will need additional funding I would assume, via another fundraising?
Yes a farm in partner if agreed might help a little, depending on the terms, but these are unlikely to be exciting based on the stage their exploration is at, and especially in these difficult times.
They received a report from SRK, which shows a contingent resource so small that I just wonder at how anyone could deem it to be even remotely commercial.
No figures released to show the basis on which commerciality could be established.
Development expenditure, operating expenditure, discounted cash flows, internal rate of return targets? Etc
(As a matter of fact have any figures ever been released from their flow tests?)
And what happened to the "discovery" that was trumpeted last year. Is it being progressed?
Anyway the reason I am pounding my keyboard thus, is because they want to take us over, and in so doing offer us a better future than we could manage on our own.
So leaving aside their AIM share price which can swing up and down like the proverbial yo yo, just what do they have to offer us?
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