Lol, well, not the news release I was hoping for but maybe my spidey sense works better than I thought it did. News posted about 1 minute after I speculated some might be coming. I guess even a broken watch is correct twice a day.
As for the release, I appreciate the optimism Chizzles, accelerating growth strategies sounds good, hopefully it is.
I really don’t like that this news release confirms the drown which was imminent in February, and expected on or about May 21st, has not occurred yet and that Almonty still needs $ for general working capital before the drawdown occurs. I have an idea, how about we use the $75 million we should have access to by now to fund Sandong develop so we can use other money already within the company for general working capital then no raise would be needed. It’s small dollars and minor dilution but annoying given the delays in getting access to the drawdown.
I also don’t like the $127,200 to Andrew Frazer for “raising” funds from our third largest shareholder, how long did it take him to market to them, a five minute phone call that Lewis Black probably made. Unless Andrew uses all $127,200 to buy Almonty shares on the open market, then I don’t mind as much. Note this is on top of the $90,000 he made on the last raise, and from what I can tell from SEDI he has not spent a penny on Almonty shares yet. Not great support from a director who is profiting on the side from raising easy money for the company.
Anyway, hopefully none of my complaints will matter after the next news release, for now I’ll try to maintain some of Chizzles optimism.