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They need more than a mobile crusher at this stage - perhaps the...

  1. 444 Posts.
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    They need more than a mobile crusher at this stage - perhaps the mobile crusher could have helped them 12 months ago when they should have been in production!

    They will be back to the market for sure, with only 5500 ounces of gold, nowhere near enough money to cover costs even with the backing of the last raising. As pointed out, their cash burn rate is unbelievable at this point in time.

    How much will the raising be and at what price - in fact we should be asking who in their right mind would even back another raising?

    This announcement just has pictures and no substance just like the last few, it doesn’t cut it for a business that has taken $150m off shareholders and still fails to deliver.

    So very disappointing, especially after the announcement yesterday that Norris has borrowed against his shareholding and not put any portion back into buying shares on market. Don’t recall if he has ever bought any on market, just remember him selling options and shares that he is free carried on in the first place.

    When will the rot end?
 
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