they are certainly lining up the projects to produce cash. and...

they are certainly lining up the projects to produce cash. and the oz are starting to addup nicely. went to the agm today, all fat(including a lot of management+rehab contractors has been carved off the company). now pretty much being run by directors owning big% of the company and want to make $$. not much left to be spent on rehab and all remaining work now inhouse. lefroy recoveries are a bit lower than expected but will still make $$.
regarding resolution 10% placement capacity, i ask if they were planning to raise 25% and was told not atm and they have currently budgeted enough $$ to develop the three new projects currently on the books with existing capital+cash flows etc and maybe a small loan. said they are looking at 4-6mill to develop the qld gold project, and shipping the concentrate back to tas in containers that are carting iron ore pellets north. they were very positive about the qld project(high grade etc) and other potential opportunities in that area. they are hoping for stormmont approvals so it can follow lefroy.
basically, focusing the company to extrat max value out of the mill. vic/copper sale likely early next year and there are a number of interested parties.
very small agm, no glitz or glamor. i even wonder if webb is finished selling now the waste has completely been cleaned out to a point i don't think anymore fat could be cut. three focused board member looking to make $$, and a small number of bcd staff were there. i was pretty much the only person asking question something i'm not use to doing. i think clive and associates have soaked up a huge amount of free floating shares over the last year thus not many shareholders at the meeting. no angry voices, no brokers.
not as may oz's in middle arm as i was hoping for but still a lot of gold.
well rosy i'm giving you a buying opp atm as it's me at .008, i need to free up a few $$ as i have a stupidly large holding and need to diversify a bit more and buy some chirstmas presents. not nice selling a few at a loss when this is so undervalued.