My thinking regarding loans and capital raise is for what?
Not being a smart ass but the what right now seems like production costs not capital expenditure. In other words they are losing money mining, they get gold at a cost greater than the value of the gold. That there is what needs to be solved. And if that is occurring because they do not have some equipment etc then I understand, but it might be because they can't plan a piss up in a brewery too!
It might be because overheads are too high, like wages, maybe drivers working shifts and around the clock on low grade ore burned through cash .... thing is .... it is not pin point identified and it seems to me more like a person who cannot budget just keep bunging their crap on a credit card until they go voluntary bankrupt or get bailed out some-how. The problem with bail outs is (whether it be better rates or debt consolidation of a longer term loan reducing repayments or lower interest rates) most then just keep spending till it all happens again.
Why not get a valuer in and value the whole operation and put a dollar figure on it then raise against that with shareholder approval? Or frankly, flog it off and we all get a share of the pie? A big miner like NST might grab it, spend the $10million fixing it and make money without reducing my investment dollars to peanuts???
I'm all ears, it is foolish to think a rotten egg is the only egg to swallow here..... and to me the continuity quarter after quarter of losses has become the norm. That must stop, and not with forever expanding shares on issue, debt, notes etc. I didn't buy shares of a benevolent society but a business, a business where 2019 was going to be the best year and make $1million a month freehold cash after cap raising in Nov 2017 to buy some equipment and fix some ball mill.
s249D (5) states this, "The directors must call the meeting within 21 days after the requestis given to the company. The meeting is to be held not later than 2 months after the request is given to the company. "
Now they haven't had their AGM so they could incorporate the CTL Shareholders Action Groups resolutions too if agreed upon by the group (rather than having two meetings close to each other). So it might be the time now to get involved.
