RE: Proposal Jays
Agree managment and BOD need to go. Question is why put in $50 million it will not solve the problem. The reorganization has to run it's course. Work out settlements with the creditors that buys enough time to get ore sold and generate cash flow. Cut every person that is not absolutly needed, get rid of the company cars that go home, reduce office cost, cut, cut, cut, make a profit on every ton.
Someone needs to come in and make sure the operationis running correctly from the pit to the port. Tapuli is a tough deposit to mine lots of faluting which could cause dilutiion. There is no fix if the operation is not correct and can make money.
Next sell Hannukainen to the highest bidder and as fast as possible = immediate cash with out further dilution. Keep a royalty on Hannukainen = future income.
They have screwed this up knowing that they needed more money for the ramp up all a long. check out the DFS for the project. It was all in there.