Hi flyboy 77 ,
To answer your question Lafayette Mining Ltd (LAF) did appear to be an excellent company with strong reserves and brokers reports recommending the shares as a buy.
The Annual Reports of LAF however reveal :
Net Loss to equity holders Y/E 30/06/05 $ 13.674 million
Net Loss to equity holders Y/E 30/06/06 $ 111.034 million
Net Loss to equity holders Y/E 30/06/07 $ 94.330 million
So in spite of all the brokers recommendations to buy the shares huge losses were incurred. The losses are the responsibility of the whole board of directors of the company not one director.
Ultimately the LAF shares were suspended for non payment of ASX fees.
Later on an Administrator was appointed to the company but he was unable to resolve the situation that the company was in.
Always seek professional financial advice before buying or selling financial securities.
which way for the gold price now ?, page-9
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$2.59 |
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Mkt cap ! $3.564B | |||
| Open | High | Low | Value | Volume |
| $2.51 | $2.60 | $2.48 | $20.56M | 8.065M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 280 | $2.58 |
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| Price($) | Vol. | No. |
|---|---|---|
| $2.59 | 88930 | 2 |
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