RE:private placement $1.5m at 10cHi Fernand
I think you were right to bring Abcourt a part of the money it needs to go on and avoid bankrupt
We all here know your admiration for Renaud Hinse and so did also I.
But we all must admit Renaud has fooled the shareholders a lot giving optimistic prediction that never occured and is the only one who have made money with Abcourt.
Don't misunderstand my words, I still estimate Abcourt is a real bargain for a lot of reasons alredy often debated here and continuously for years now I buy share small by small and never sell.
But I we must admit the process is driven on a blind way.
No exploration is made . Ore is processed by chance and due to this blindness a lot of sterile are processed incurring in dramatic increase of production costs.
My feeling is because the production costs exceed the price of Gold particuarly at Elder mine the best to do now is to stop mining Elder and Sleeping Giant this blind way and find money to drill these mine in such way that allow to find where the veins are before exploiting them.
Ounces will stay quiet there waiting for Abcourt will be able to process them inthe proper way
Hinse never admitted it but I guess the new CEO much more aware on how drive profitable mine will do the right things to do and find the necessary money for it.