RE:RE:RE:RE:RE:RE:Massive cash bleed
"Both Galaxy and Summit look like nice little projects, a lot more promising than Mupane."
Galaxy - a few highlights:
2015: Acquisition of Galaxy announced, and completed.
2016: Commenced commissioning of Galaxy (planned to take 6 months)
2017: Still commissioning... (Maybe management was distracted by another acquisition which didn't go through.)
2018: Raised $5 million to refurbish facilities and restart mining (so what were they doing since 2015?)
2019: Galaxy starts mining and producing concentrate.
(Skipping a couple of years here.. I'm bored with reading the old news releases.)
2022: Galaxy still bleeding cash in the millions and nowhere near profitability. Unless you believe management's stories and promises of course. Mupane gone so no chance of any income from there. Where will the money come from to keep the company alive?
"Nice little project" - to support management and director benefits while they pretend to be in the mining (for profit) business.
Remember, Galaxy was a previously producing mine that didn't need much work to get it going again, and spinning cash...
Credibility? Confidence?