Are you all kidding???? Listen, Im bullish on this stock but that is the least infomrative quarterly I have ever read. And they spent 700k last qtr doing bugger all leaving 2.4 mil. This is not a good quarterly at all.
I understand loyalty and what they have in the ground, but realistically cash burn is high, wasted coin of $200k was STUPID when they have no money for that sort of investment. What was $265k exploaration on - fair dinkum - cost cuts - why wasnt this done in the first place??? That had heaps of coin at one stage. We have had no informative info for a long long long long long time.
Managament may come to the party but to date it has been nothing but wait and wait and c$%p. Scoping study is just that but also a stall mechanism as there is NOTHING to declare to the market. Is more to keep us guessing. Mark Smith said so himself that it was survival. analysis of oysters findings, blah blah. They will keep us all waiting for a long time yet as per the last coupl of years.
Very very good chance this could go into administration if nothing is done in the the next 1/2 year. If you think this company will run off 280k a qtr your dreaming. Plenty of cash - why do people keep saying that?? Its not true.
Sorry to offend but nothing to excite for mine. i have been a long term holder averaging 3 cents per share. I give it 3-6 months for a spike and im all out.
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