RE:RE:RE:RE:RE:RE:RE:RE:Final shelf filing....filedSandy's response to my email -
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Writing to you from Mines and Money in London, Paul and I are here in person and on day two of a full 1x1 schedule, several media interviews and a presentation this afternoon.
Still waiting on the final met report before publishing the met results, Paul has talked about the draft results being as good or better as the Feasibility Study and no reason they are expected to change. My understanding is this is the last part of the original scope of work with Rio.
As previously stated, our cash position is sufficient to get us through the permitting process, but just enough. You may have noted that we renewed our shelf. This is important to have to ensure that we have the maximum number of tools at our disposal over the next few months as we clarify next steps with Rio.
Thanks,
Sandy
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My response to her (which i got an out of office response so not sure when i will get a reply)
Hi Sandy
Hope all is well overseas! Thanks for the feedback. Can we assume drill results from the anomaly must not be anything exciting or a game changer or we would have seen something released by now?
Obviously, you can understand investor concern about further share dilution and impact on our share price —- as I think we had $25M for Rio and another $25M raise in Nov 2021 and now another $25M —-going from 140M shares up to 175M —— or whatever it’s going to be — is quite an issue for many shareholders. I do realize we need to be able to continue running the company and proceeding with permitting...but we've also previously been told enough cash. We also don't want too much cash on hand during negotiations in my opinion because cash in the bank isn't going to drive market cap!
Anyway, I appreciate you listening to at least what investors concerns are in this and personally I'm concerned how this will impact my 415k share portfolio. I can tell you many other investors have similar concerns on this raise and prior communication on cash status.