RE: News.Kerbrilliant
We do agree on one thing. I think RIC wants the mine at the 675 tonnes per day. But they want 100% of it not 55%.
So they starve poor old Pat to death financially because the original JV agreement left them in full control of everything. No penalties for dragging their feet...just up side for them and downside for Pat the longer the mine stays cash flow negative
Pat keeps borrowing to stay afloat and RIC keeps dragging their feet to ensure that Pat can be had for a song.
There's a million $ loan coming due for Pat soon. Ric is just sitting back and watching Pat wiggle and squirm as the time approaches. Heck, RIC might have even talked to the holder of that note and already cut a deal.
IMHO, it is too late for pat to try and remedy that weak JV position they have with RIC.
Maybe a shareholders rights thingie might help in the end when RIC comes a calling. I mean some one is buying a pile of shares at sub 50s. I don't think you're buying them all.
but hey...everything is just top knotch and we have nothing to worry about because RS and Cc are taking care of things.