"It is not generally expected that mineral exploration and development companies will generate corporate profits. The classic exit from an investment in an exploration company is via a takeover, where a larger company acquires the explorer lock, stock and barrel in order to integrate the principal project of the latter into the wider business of the former."
well there we have it MGA is going to take some time You have to spend money to move projects forward takes time. expenditure and net assets are down compared to last year. AGM is on the 31 March 2015. sometime this month as we already know mass bulk sampling will carry on in SLM with no idea when that will be finished as with Itogon (watch this space). Well this will be interesting to see how many posters stay or go next updates who knows when. I am off to work to have a think about what I have read and continue to have a hold stance with my shares.
to put a positive spin on the annual financial report. echo what others have said, it reads as many excuses for the lack of shareholder value. expecting more drift sadly, as theres nothing out there at the moment to indicate any immediate turnaround in SP I wonder what LG would think of this....I`m pretty sure it would be yet more amazing opportunity to top up at these low low levels which we surely wont see again. oh dear. back to the wait 1 month, get excited about news round the corner, news isn't so great, wait 1 month cycle. wish I could bring myself to pull out of ECR but... at 50% loss as it stands, would rather just ride it out now until Itogon drilling results analysis is in.
At this stage Id be happy to get to the options price.
More worried it will slowly go the other direction with the lack of real news....alot of potential investors will look elsewhere or watch to see if this drops to 0.10 before buying....alot of current investors will jump and hope to buy back in at a lower price....im holding for whats its worth....need some real news BOD - hope the salaries in the finacial results are justified...lets get to the options price and move on up!
Nice to see them noting the concerns on the slow progress and re-enforing the strategy of progressing Itogon & SLM while looking for other potential projects. Itogon drilling to be concluded in the coming weeks , MGA may take some time (no change there) SLM bulk sampling being undertaken (known) and THEMAC is pretty much a write off for now. So Itogon seems to be the big immediate play and the end game seems to be a takeover of ECR once we have a nice proven resource (one would guess this relates to Itogon).
The drill keeps turning...and we await the results.
...are begging for forgiveness in respect of slow progress, making repeated excuses throughout for why things haven't moved as quickly as everyone had hoped. It's symptomatic of AIM in general that miners in particular are facing hard times. I see a lot of these companies folding in the next year or two or else diluting the hell out of themselves so that the only winners are traders and not long-term holders.
still talking months for itogon... drilling has to be finished (whats the current approx. ETA, isn't it about 4 weeks more?) ... then analysis? with Thailand now off the list, MGA gone awol for an unknown amount of time, and SLM ... well, we have no idea what their timescales are for doing anything with it.... seems like a lot rests on itogon and we are going to need to have a whole bucket load more patience on top of what we`ve already shown.
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