Highbank Resources Ltd V.HBK

End of week Point of View

[aggman]

• another $500,000 raised and 227,000 shares at 22cents issued - its speaks to a bit of a cash squeeze (possible all planned and modelled) - but i would hope the issuing of equity stops.
• If we are 2 or 4 weeks away from mining and shipping a first load - its high time for HBK to make a proper announcement (that, if needed, maintains confidentiality).  In fact (and maybe 4Seas can add to this) - why wouldn't the company - which is currently engaged in week by week site mobilization updates (too much) - not comming out with a hard statement declaring:
  • "customer A account signed: 100,000 tons at $35/ton"
  • "customer B account signed: 175,000 tons at $37.25/ton."
• Is it fair to assume that nothing is signed on the customer side (absent a release) - and here we are 2-3 weeks from shipping, and the company using cash, but not producing cash.
• Happy for this important milestone, but the constant dribble of sit establishment has lost its value.  Stock aint going anywhere until it proves sales, and its market.
• Enjoy Thanksgiving everyone.

4Seas: what u got?
4 Seas: I did look at Sumito Corp Canada - yes, the real deal. Whats the feedback from their site visit?