I agree popmoo.
Surely they would be trying to get as much inferred in as possible. Punchbowl should at the very least have a big inferred component. The original resource when they bought it had inferred for Punchbowl and now after extensive drilling of Punchbowl they have taken it out. From memory I think the 120 metre hole was not included this time.
For the sake of all shareholders they should be desperate to have all the holes in there and if not there needs to be a very good reason and full explanations as why they are not included at this stage.
I am now mostly out of this stock but will keep a small holding just in case they get it together and get to that magical $1 which shouldn't be some oasis but a realistic target in the next 2 years with what they have under the ground.
I am as concerned about the capital raising as you and the major lack of detail as to what it is being used for. Thus I have significantly lightened my holding in them.
If we are wrong then it is not our fault, it is the fault of management who have not properly and fully communicated with shareholders as to why they are doing things. We shouldn't have to call them they should give us lots of detail and explanations etc, otherwise they would get hundreds of calls after each announcement which would just unnecessarily tie up management time.
Flipper
RBM
redbank mines limited
