Can I ask, if the PCI can genuinely be in production for $3M, why hasn't Dom just raised it, or got a bridging loan ?
It seems like something that can be raised in a few days. IMO there would be no shortage of brokers who'd slot $3M in this if CKA could be cash flow positive inside of 6 months
I never understood why they wanted $25M from Renjian. If the PCI capex is $3M, and BBM is around $70M, then $25M doesn't seem to fit either. You'd raise either $5M or $80M, wouldn't you ?
Are they trying to raise too much at once ?
If for whatever reason there is issues with production, they should just mothball for the time being and drill TBAR aggressively. Lynch once told me he thought there could be 500Mt+ between TBAR and BBM, with TBAR expected to be higher grade, lower strip ratio, shallower etc - i.e the cream
Why not just prove up 500Mt resource between BBM and TBAR, then sell the thing off
CKA Price at posting:
4.0¢ Sentiment: None Disclosure: Not Held
