Post by
SergeGodin on Apr 30, 2015 5:26pm
LME up, now what?
LME lead back up above $2100 now. That makes the mine restart a sure thing, right?
Not so much, according ot the latest quarterly results and management discussion. Apparently even at $2100 and AUD/USD at $0.79, a restart is far from a sure thing.
It doesn't take a PHD to figure out that management is sending a clear signal that this is dead.
They have no cash. Raise it through equity? Last time it took $25M to restart the mine, so do the math... $25M at 2 cents a share..... BOOM. That was the sound of all the existing shareholders getting wiped out with a 100-for-1 consolidation.
Is there anyway a shareholder can get a break with this company?