RE:They just can't help themselves. "They obviously have no confidence in the future mines cash flow ..." Me: 05/19/23: RE:RE:RE: It is a Start of Something.
... I did have shares some time back, but sold when they were above 1.40, just before it got bombed the first time by the financing. Then I was considering getting back in about a buck - and it got bombed by financing again, so glad I didn't.
(Bought some warrants; got burned for a few hundred bucks on that after they tripled and crashed, but at least it wasn't 10s of thousands had I held shares.)
Me: (02/27/24) responding to forwardflash
["Trust is lost in this company, they completly fooled the buyers".]: ...
"I think I'm done too ... yeah, they're producing a bit but ..."
...
6/28/23:
"The project is FULLY FUNDED and on track for delivery of first gold in Q4 CY 2023."
Oh, Good ... but wait ...
...
News Updates:
01/02/24: $US8MM ($C~11MM) drawdown (Total drawdown now $US31MM @~15% interest = ~$C~1.5MM interest only per quarter payment. Debt matures 08/26/26: ~$C42,000,000 assuming no further drawdowns.
02/14/24: $C12,075,000
07/18/24: $C10,000,000
07/22/24: $C2,000,000
That's $C33MM cash input since the beginning of 2024.
Also, there's 5.5% NSR - 5% for Fiji and 0.5% for the lenders, triggered when 2,000 oz/mo production achieved, and $C500K a month interest on loan, all off the bottom line. And the $C42MM balloon payment Aug '26 (Possibly alleviated by refinancing? If not, then $~C20MM a year to a sinking fund needed for the debt principle).
All this may be tough on cash flow/profit.