Share
794 Posts.
lightbulb Created with Sketch. 272
clock Created with Sketch.
04/05/22
08:03
Share
Originally posted by opaldigger:
↑
Interesting report Mike. I haven't seen the $8.9m figure required to complete the capex at Mt Freda. It is a fair swag of cash, or about 150m shares at today's closing price. It would have been helpful if this was discussed further at the AGM. I don't believe this company could get traditional financing and forward sales of gold would be impossible without any reserve figures. Maybe the board could put their houses and beemers up as collateral. Now that would really project some confidence in this outfit.
Expand
The valuation is $103.7M at 9.5cps. This gives 1.092 Billion shares on issue. That means they are estimating an additional 257M shares will be issued. Dilution of holders will be approaching 50% from 12 months ago!
Last edited by
Au9999 :
04/05/22