Most people have got burnt here including myself. I got in at 4p about four yeards ago. All you get is plenty of news, lots of issue of equity and SP only going one way...Down. In fact this hasn't done anything since 2007!!! SP was over 20p then and it''s 0.20p now! WOW! Who is keeping his job going I wonder?????? Hmm!
Luckly I transferred my small amount left over to another one that took off and gave me over 350% profit (That was MARL).
"Mick Billing has over 30 years of mining and agri-business experience and a background in finance, specialising in recent years in assisting in the establishment and management of junior companies to the position where they can be sustainable businesses..."
Agreed...when are the BOD ever going to make real progress? It's not like they have a great deal to focus on. There is no sense of urgency. No timescales. Nothing to inspire confidence that production will ever be reached. I really don't want to sell at a loss but can see the SP eroding away to virtually nothing.
So first we are told that the quality of the Tungsten is the reason why they can't secure project financing. Now we are told it is the relatively short mine life that has put off potential suitors. So which one is it Mr Billing? This info would have been nice a few months ago instead of seeing it now snuck into a somewhat positive announcement and glossed over. So I assume that when the DFS was done 2 years ago "it doesn't really get any better than this" was not quite true was it? What a joke...How many got sucked in by that line?
· Completion of exploration expenditure to ENABLE acquisition of an additional 29% of the Spring Hill gold project, representing the final stage in the acquisition of an 80% equity holding in the project from Western Desert Resources Limited (WDR). John maybe I have read it wrong. But it say to enable. I took that has not yet. Not 100% sure. The wording is confusing. Not trying to pull the share down. Even though I am out for now. Concentrating on frr. I reckon more potential there for now. Just my opinion. Atvb mate. Gl
I had 3 mill at onetime. But I am more sure of Frr. The last 2 rns and the sp hasn't moved yet. I am sure I will make my money back there. I have 3 mill frr. IMO. Atb mate. I hope this rises well for you. It's got a chance. They will need more money to buy the remaining % of spring hill. That could be another placement. Not sure. Good luck mate.
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