Given that I've been the main CSD bull, I feel embarrassed about the current situation, however, I do not think a witch hunt is either useful or necessary at this point.
As I see it, there are several ways this could end:
1. Funds come through. I believe Ralph is still pushing for this.
2. Other funds sorted in the interim. I'd assume this is something that is happening.
3. Possible dilution. If funds can't be loaned against assets, this could be something put in place.
4. Receivership.
SPM/CSD have $40 million in assets (worth significantly more) and, on paper, an advanced stage tin project worth $110 million at NPV (2013).
Personally, I do not see this going into receivership and I have full faith in Ralph and the directors to bring this out of administration. There is nothing more that I can add so I will wait until events unfold. I also remind people, yes this hurts but it is only money and not the end of the world.
Please, take care and keep safe.
CSD Price at posting:
2.5¢ Sentiment: None Disclosure: Held
