Ability to continue to fund the project/s is my number 1 concern. Even the bestresource in the world can fail to be commercialised if you cant fund it.
While I chipped in for the recent SPP to try and get thingsmoving (at twice the current SP), I'm skeptical another SPP would get muchinterest from holders. The last of the Lind CN money was drawn down by January thisyear, and so far only 20% of it has been repaid, so I would be surprised if Lindwould be prepared to lend more right now. A raising to sophs would need to be at a decent discount and probably batter the SP (and sentiment) even further as they will want a quick exit due to the $3.35m remaining CN hanging over us. It may be getting close to the point where a funding JV could become one of the last remaining options, but that will mean sacrificing a stake in the resource and diluting us out.
While news flow islow, and everyone calls management poor communicators it frequently turns out thereis simply nothing to report.
Either management wave a wand and pull a cash rabbit out of a hat to continueat current pace, or they really get their act together and start kicking someserious goals otherwise the money will run out and the resource may pass to the nexthopeful crew who might be able to turn it into a commercial operation.
All it will take is getting some runs on the board. Sentiment will return,volume will pick up, Lind will have something to sell into and the debt can becleared away, and either holders or lenders will be prepared to support thecompany with further investment. The solution isn't that difficult.. speciallywhen we are sitting on a sound resource. Time is ticking though.
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10 | 2030000 | 0.010 |
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Price($) | Vol. | No. |
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