Papertigger - the problem is we have god knows how long until the iron ore project can come up. More drilling? potential financing for that? Who knows. The 'few month's up n running for a quick cash flow boost' doesn't look like it'll just appear out of nowhere.
Gold is starting to slide again and with jitters about QE ending, the longer we don't get financing the more likely the future of a lower gold price makes that even less possible. We'd now be at the mercy of an already high iron ore price which has an equal amount of naysayers that it could drop back down. The fact that we aren't even up n running an iron ore project makes it just as risky we get another gold repeat, where we don't get this iron ore off the ground if prices suddenly crash again next year.
Looks risky and I think I will finally put my mouth where my hands are and sell down even more. GLTAH, I may keep a nominal amount of shares, given they're worth pretty much jacka ll now.. but I'd rather take $300 for 10k of shares now than $150 or none in a yr or two, and stick it into something that at least can stay afloat, gold wise i.e. NST, BDR (not too in the know with BDR but they seem to be up and running and high margins like NST).
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1 | 3564 | 0.735 |
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