drill results, page-23

lol - this stock is a bigger dead dog, that what watso previously thought. after allowing for the options, this dog has about 700m pieces of paper, with a market cap of $20m. obviously, when the stock was 6c, the market cap was aout $40m, which is nothing short of rediculous - and there is nothing in the company to justify these numbers

ir one wants to have a punt on a cheapy gold play, and for some sort of comparison, then have a look at pre (pacrim) - they have 800m bits of paper, was trading at 4c last week, giving a market cap of about $35m - but they have been drilling their gold prospect for 18 months, and keep on coming up with good results, and watso would suggest that there is simply no comparison between the two companies, and their respective gold plays. pre are constatly delivering good DRILL RESULTS, and it is not till gda start delivering DRILL RESULTS, that this company will be worth looking at. the impending results from the 11000 samples will do nothing for the stock

one needs to wonder about a company, that when iron ore is the flavour of the month, that they could not, themselves collect 20 rock chip samples from an exposed banded iron formation, and drill the stuff themselves - instead they farm 80% of it out

once the shares are consolidate, and depending on the number of options that are converted, to get the "one free share for every eight shares (why not consolidate on the basis of one for nine, instead of one for ten ????) this company will have approx 60m shares and 50m options, and it will be a matter of time, before the shares trade sub 20c

the present market cap of $20m for this dog, is far too much