Buddy,
Evenif outside questions were not allowed, I'm the sort of person thatwould go up to directors after the meeting and ask what gives.
After my last visit to the mine in 2013, I believed what I saw and was told, if those things had occurred, there would be far less dilution and income would have been flowing by Feb/March 2014, so I believe the SP would have been far higher.
One of the real questions I'd like answered is why the talk on this ore-sorter should be any more believable than that spoken about the last one?
If there was a Steinert rep, he'd probably know more. At least Steinert have it on their website, so that makes it much more believable.
A much more relevant question for the EGM is why are the extra shares necessary if the ore-sorter is going to pump out $15m/mth of cash when operating on the low grade ore? ie 200t/hr X 2% X 24hrs X 30days = 2880 tonne of NCu = 2280 X $US2.50 X 2204 lb/t X .78((WM)price for NCu high grade of refined price) /.79 (current Value of $Aus) = $15,667m.
So why the extra shares if the low grade puts out 2% as in the trial?
Even the most ardent long term supporters should be asking this, as it's their shares being diluted for no apparent reason if the company is to be believed!!!
They may have needed $5-$10m to get through ST, so why raise $40m+ at low prices if the ore-sorter is going to be pumping out all this cash?
As Hoot's stated, the carpet don't match the curtains.
CDU Price at posting:
$1.41 Sentiment: Buy Disclosure: Held
