RE: PP Mineblog:
Romaras' take seems indeed to make a fair bit of sense, still I am dead against the PP, any PP at this point in time, simply because it is not needed for at least a year or longer. And to quote You " No PP will give these other guys control (look to Veris Gold over last year to see what will likely happen). If their potential piggy bank is gone is why we are seeing such a poisonous response to this PP by a few individuals on this Board. These are not a few individuals but most of the board's participants. Or was that not Your quote, but a statement by Mariusz Skonieczny? Some way to raise funds will be needed only if the development of Mengapur is indeed a viable undertaking, which at this stage is by no means certain. So why would one even think of raising any money at this stage unless it is driven by other nefarious motives? Even more so, through a highly dilutive PP when the shares are drastically undervalued though manipulation or through incompetence of the BOD + R Baldock or a combination of both. I already stated way back in Sept/Oct of last year in great detail why I was dead against the purchase of Mengapur and even more so against the then proposed PP. But with the voting the way it was conducted (non voting share holders were deemed to be in favour of the deal) we had no chance. Now we are stuck with it...OK it still may turn out to be ok but? What expertise do we have in polymetallic low grade ore deposits? Seems to me a JV would be the way to go, preferably. All this depends of course on the ouitcome of the bankable feasibility study which I expect to take well over a year, perhaps 2 years. Then and only then we whould even be talking about raising funds in addition to our 50M $+ we make at present annually,
My 2c worth, Wolf E