CT you have some excellent points to make about the scenario. Following it, you must either believe that the Directors are totally incompetant as managers of a multi-million dollar exploration company or shrewd operators who always had a plan B firmly in place. I wrote to John Kelly about Luzon in December asking him if at 4c they were now a good buy worthy of Republic attention again(especially since the capitalisation of the whole company was now less than the 2 million they owed Republic). His response was...'Our lawyers will be very busy over Christmas'. Which would otherwise have led me to believe they were still working on a settlement. However following the Mt Carbine affair, and considering previous experience I have mentioned on HC, leads me to second-guess Mr Kelly, rather than take everything on face value.
BIG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
