They don't need a fallback plan as such, they are already funded to do what they have planned. I'm picking however an upgrade on JORC from Mystery vein which has been mentioned more than once as now being accessible
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The 21/2 mill $ would have come in very handy, some S Hers would subscribe anyhow but not all !
As long as the gold is still in the ground, just be happy with the 400+% SP appreciation, albeit eroding. It will be or not when they 'prove' the 'probable'.
Good point WU. In fact if do not get the opps converted then the SPP was a waist of time as the OPPS money would equal the SPP money. I think the management underestimated the effect of the election and the final outcome was just about as bad as it could get.
It is time that the company stopped mining the shareholders for cash and mine the mine to create cash.
After the awesome Dubbo Deep announcement, if the directors had sat me down and said "how can we destroy all the value of the November options, and raise no money from them?' I would have replied "that would be quite hard to do'. But it looks like they may have snatched failure from the jaws of that particular shareholder success. Unless there is a miracle within 23 days, lol.
I am hopeful that there will be a good announcement for the mystery vein. This vein is already accessible and has never been mined before. This company needs cash flow which is a fact which I am sure has not escaped the directors and management attention.
Oh that can't be good news...selling half his holding (or have I read that wrong?)
https://www.anzsecurities.co.nz/dire...spx?id=4580538
Isn't it saying hes bought another 130000 shares?