I take your point, but here's mine, and it will also answer your question about the buys. Clearly for Ore to get the 80% earn in and Georaid to spend a substantial amount of money then there would need to be the glimmer of a feasible project. Now we haven't been show this information. It's probably sat there as a nice 3D model for the select few to look at. Ore has become a leaky ship. They have told a select few who are snapping up the shares prior to news today. The board will wait and buy in at the discounted rate to minimise their risk in August. We haven't seen a exploration plan, we haven't seen a 3D model we haven't seen anything apart from another dilution. So why the buying ? Insider trading Others have clearly seen something. It's insider trading as clear as you will ever see it. I will be making calls in the morning.
Before you slope off into rehab, what do you make of the large buys well over Ask, and occurring after the placing news? I fully understand if you sell up tomorrow matey, I really do, and my feeling is that without the earn-in at Mutsk we are definitely knackered, but with it, due to what we are told would have to be the substantial exploration and a JV with Georaid, we shareholders may be able to claw back a bit more from where we currently sit. Only my thoughts Jib, albeit I know the BOD is complete inept. I'm curious about these huge above Ask trades though.
I really thought he would get something ORE could generate cash from as he proposed - instead ORE got a cast off project from his other company GLR, which needs investment - what is the point in that - I don't know who is culpable in this debacle but the company is 9 months on and nil progress has been made after 2 huge placings (compared with market cap). I agree and totally sympathise with LTH's who I thought when I bought in 9 months ago were just deramping - this BoD is totally inept, they have had Mutsk for many years and have done nothing to get value from it for shareholders. I once held nearly 3% of the shares in this company but I would not touch it with a bargepole with this BoD still in place. I am sorry that the shareholders who have been invested here for many years get another huge dilution for their loyalty. I would like to get this board out and another elected but I think that will be very difficult with the current circumstances. Who knows they may turn it round -sorry but my experience tells me they won't. GLA you will need it.
Trying to run two mining exploration projects, with the senior team on big salaries and little or no cash in the bank! They are going to keep on tapping into the shareholders pockets until they get kicked of the AIM. I had high hopes once, not any more! I will be selling ASAP
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