RE:The June 30 Cash balance . I believe that the press release indicated that only one million dollars has been borrowed. If so, since the loan was advanced to speed up development at the SG mine and since few workers seem to be available, possibly to poor onsite accomodations, perhaps some of these remaining funds could be used to build some decent housing for miners? Then, maybe more miners might be persuaded to come?
Hinse should consider that this would be an investment for future years. It could be explained to the board who might have to vote on such an issue that good accomodations for workers are a needed expense to make.
Hopefully, the new Chairman of the Board could also be persuaded to agree? Apparently from what fbedard has said, he may be just as reluctant to spend the company's money as Hinse himself?
This is another problem that can be encountered when company board members may also be the company's major shareholders. Perhaps, it would be better if the members who sit on the board had fewer shares to risk. Perhaps, their decisions then might better represent the best choices that a leader should make?
Some of these major shareholders could be more risk adverse and be more reluctant to spend company capital than an independent and more professional advisor would choose to do.
Something action in this regard does need to be taken. It is evident that the SG accomodations have been poorly arranged.
Personally, I wouldn't choose to live crammed into a mobile home set up like a sardine can. That would appear to be what Hinse in his haste seems to have done. Some better planning should have been done!
https://abcourt.com/wp-content/uploads/2021/03/PR2021-03-03.pdf It still not too late to make a change for the better!
All the best! Java