From the news release:
"The losses in mill throughput resulting from the crusher failure has had an adverse impact upon the Company's cash flow and its available funds. This severe constraint on funds availability has forced management to halt the operations of the contractor responsible for the development of access to the North Wall mining area, which is now expected to delay mining in this area until May at the earliest, subject to funding availability. "
Just how bad is the problem,and what will be the solution.?
Well, we have the special meeting on April 12.What is the reason for having this special meeting?
Obviously the talk/rumors have been a takeover, and this may well end up being the case.
However, what other reasons could there be?
One that comes to mind is what if the company is looking to do a reverse split.
3 for 1 5 for 1 10 for 1??? Then do a PP to obtain their cash.
From the news release it seems apparent the company is going to need cash and quick.
Glorieux already stated he is surprised that Finskiy hasn't exercised his warrants; more questions.
Anyone else have any thoughts on what else the special meeting could be about?
Tks RR
