RE:RE:JimT - points
Barbarossa - If my takeaway from the PEA is close to correct, then I'm sure that all of Gromax
management is pissed off. I'm sure pretty unhappy about it.
I'm not sure I see a strong connection between an offtake agreement and a bank loan. The
offtake agreement addresses only the revenue side, not the expense side, which is where
the big problems with mine development tend to occur.
As for Badwi's investment... For one thing, he's being paid quite well, way more than enough
to compensate for losses. For another, just because he bought in a .25 doesn't mean he has
ever intended to stick around for years while some piece of godforsaken Peruvian desert is
turned into a mine. If he can liquidate Gromax at 30 cents, he'll make money, and it will be
a big feather in his cap, especially in light of his success in liquidating his prior company.
He'll be wanted in Calgary by every other company in a similar situation.