The Day AfterGreetings Folks,
After sleeping on this conference call, I'm still not sure what to make of it. TD made it sound as if the junior mining industry (projects, stock market, & financing) are in a dismal state. He made it sound like a major buyers market for larger fish with capital. And he made it sound as if potential partners keep pointing to the market cap and not the net present value for bargaining positions. And why wouldn't they?
Serb progress also sounds dismal, but we already knew this and it's out of our hands.
One thing TD did not discuss was current cash position and whether we are facing imminent bankruptcy.
If the 5 cent PP pricing rule set by the TSX is legitimate then this is a credible obstacle.
Another thing TD implied was that we have 36 months on the license and 12 to 18 months of work. Of course this means they will string it out for the full 36 months and not 12 - 18. That's $4.5 milliion US running until 2020. That's all on us and represents significant dillution. Will the junior mining market be better by then? Who knows?
In the CC TD used the expression "If as and when" a few times to describe Pobrdje and other topics, which I found unsettling. And I heard the word "may" an awful lot.
Whatever happens, this is a long way off, with a potential lottery payoff from Pobrdje.
I will investigate share consolidations on my own and see what I find.
GLTA,
Nobodysfuel