Multiple parties in discussion and we will have a resolution in not so distant time. Rest assured they are not chasing a single party to be their white knight.
Management can do a bit better though - the river behaves in predictable patterns and it is a matter of having a better mine plan, appropriate stockpile at the mine site and the ISP and the offtakers would be satisfied. I have repeatedly asked if river transport is an issue and they say yes it is but not something they cant overcome and their offtake parties know that and understand that.
They would have a large barge at purnama port and use that to reduce the impact of the river levels.
Also the mine operation is easily scalable- while they are using 7 barges now - nothing stops them to scale it to 20.
They are also looking for a cornerstone investor who would take a big stake in the company.
Once money starts rolling in they can do a board expansion with more focus on production and marketing. Pat hanna is doing a decent job for the meager resources they have in hand.
CKA Price at posting:
4.4¢ Sentiment: Buy Disclosure: Held
