Molyhil is the key. The company has been banging on for months how they are in discussions with potential partners and they are hopeful of a good outcome. If this happens soon then the price could double/tripple in an instant. So MB is good at telling everyone about what he hopes will happen but can he make it happen? Does everyone think that in the current economic climate he can make it happen? Well let's see come December 2013 if we have progressed or not. So one or more of these things need to happen before the end of the year:
- Molyhil offtake - Springhill mine development commences - Dundas gets drilled and they find something good - sell one of the above and raise some much needed funds without passing the poor hat around
Can you do it MB? If I were a betting man, I know where my money would be...
The offer result is an embarrassment and should send a firm message to management about what shareholders think of the current plight of this company. Where will they get funds from in the second half of the year? That's the $64 question...They better come up with some good news and fast.
THR Price at posting:
0.5¢ Sentiment: None Disclosure: Held
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