Bottomline.... The best and worst case scenarios for Laiva is all there from data since FY2012-FY2016. There cannot be any differentiating news coming in from the drilling exercise. Its been done a million times since this mine was at its peak and when it was depressed.
Point is, with todays goldprice, even in the worst case scenario, this mine is economical at 15% margins with min 8 years mine life. So why is the management not getting equity capital in? May be a rights Issue. If not, a directed Issue? Why has, since Hepworth took over, price performance been 0,08-0,09 which is a vastly under valued price. Fair value is 0,50 CAD. Did the mine, after Hepworth took over, ever had equity capital invested?
Was 17M really equity Capital?
Did 17M bring in any shareholder value? In fact negative.
Bottomline:
Brilliant asset to stay invested in, conditioned to a well meaning management and board.