The date for the 2nd Auction is unknown at this stage. Likely they won't leave it until June 2018.
They have over 400000 carats now, what they took back and what was left behind + what has been mined since. Even without the upgrade going ahead they can still pull the rubies out at a reasonable rate. Sizing/Grading/Sorting issues aside it should not be too long before they have 750000 to 800000 carats.
Cash issues as well, I'd be surprised if the 2nd auction is any later than April 2018.
10% Share placement facility in the upcoming AGM will be the most likely avenue to short term boost to finance to get us to 2nd Auction.
A better path than the loan sharks option for sure.
As for future Graphite mine, JV, Farmin or outright selling most likely. Required capital to start the mine will be huge.
- Forums
- ASX - By Stock
- G79
- out of cash
out of cash, page-31
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add G79 (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online