RE:RE:RE:NEWS June23rd- PROVISION of EFFICIENT ENERGY for Project ++ Fair enough shorelunch. I think most of us on this board can do the basic math. I also agree that Callow has mine building expertise that's heads and shoulders above the previous management group. His CV speaks for itself.
Your comments however don't answer the fundamental question of how are they going to finance this to production without diluting the shite out of ALL existing shareholders??
Further to that, why didn't they drill out that million ozs?? An approx. $1MM or so spent on RC drilling could have increased NPV by another $75MM USD or so at $1500 POG. That is substantial positive leveraging and could have assisted with a valuation reset.
At this stage of the game we need a promoter/deal person running the deal with the mine builder playing second fiddle IMO so as to get a reset in valuation so they don't have to sell more stock at 20 cents. Once you get it financed then the mine builder can take the lead.
I've stated many times on this board that I believe Kobada is a hidden gem that will be a minimum 5MM oz very profitable ore body to mine. I'm still holding but I've lost some confidence in the current management group.
At the end of the day the fundamental objective in this excercise is to create value for all shareholders not just build a mine and existing shareholders be damned to dilution.