Magog, Quebec, October, 2001.
I don't fully agree that we do need now the PFS at this point. Well, it depends what you guys are intending to do and what strategy you up to. If you want go out at the level $3, then you have to wait for the PFS which Iwill be published before the BFS, as David told me so. this could be this year or latest beginning of next year. For the take off agreement maybe you have to wait longer, as David was confident that the money on the bank will still last for quite some time (his words). I also won't bet on a too close partnership with the Kyrgh gvmt, as there are no legal legitimate laws yet, which implies that Kyrghiztan must own shares of a foreign company. So giving such for free, is quite a complex thing, as it isn't based on law. If they push, then it's what they want to get over with....a reputation of ambushing foreign investors and blackmailing them to give them donations to which they are not entitled. Besides, this is a shareholder company and they can't just give away what we all own...so needs a majority of pro votes!!!! Otherwise this would be an illegal act of Stans. So, this they can't do such without publishing before.
You can draw your own conclusions now, what will happen. I think, the situation in Greece, Spain, Portugal and Ireland was much more critical also a huge political risk and still investors believed in Europe and the Euro. The stability issue IMO is off the table, more or less. The thing is...once you have a bad reputation ( as Stans had it because located in Kyrghiztan) it takes much longer to regain the confidence.
So, those guys in here, which don't need the money within next 12 month and stay, don't need to care, whether the SP shoots up tomorrow or in 3-4 month, the others, which desperately want to get the hell out of here...they in deep shit, as it might take maybe just 2month to be back to 3, but maybe also 3-6 month from now (this is pessimistic unlikely scenario, but possible). As for a take off agreement, I don't think they need to Pre publish a PFS or even a BFS as this is more of interest for "ordinary investors". The take off partners will have insider knowledge, I am sure and I am also sure that they will do the math latest after having the latest drilling results...
In fact I am happy if we make progress with SP, but in fact I just go for the good news and there are lots of good news now, which make me confident to stay until stabilized production as then I make 20 times the money I've invested. Stay long, getting out too soon you will regret anyway. |
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