@Battersea I agree, and share both your concerns and your frustration.
Being a small shareholder ( but for me a huge investment , now 650,000 shares
) , means you are totally at the mercy of the big players.
This is a good project, with great potential.
as you suggest, our only real hope of avoiding a peanuts T/O is a Large friendly shareholder who sees the potential of the company longer term, and who will at least, demand a fair price for their shares before selling to a predator.
The situation we are in was foreseeable, and I hope Caigen et al have been marshalling their forces.
I have twice written to the company asking for their plan re defense against a takeover , and also for them also to publish monthly updates to the current share register. It would be nice to know who is accumulating, particularly now, as its rapidly changing.
No reply.
At present, Chinese entities ( and there may be more than 2 if they stay under the 5% threshold ) are stealthily , or not so stealthily, soaking up shares from the retail market.
I very much doubt it is for the benefit of all.
When the T/O offer comes , as it eventually must, hopefully our Board can command the 40 % its says .
If i was the Chinese , I wouldn't be waiting till the sp hits $1 to make my play either.
I'd strike before first gold ,which is when the market will likely see the projected cash flows for Tietto are real, believe them, and pile in.
ATM, with the depressed gold price, gold shares are less on the radar.
And i agree about the ASX being a tiny pond , off the radar of most of the worlds investors. The metrics of investment are often based on a MC or earnings figure too high for small gold companies.
The technical aspects of the Abujar operation look fairly sound at present.
As to its financial , and strategic resilience , no idea . The corporate battle coming is impenetrable .
Hope is not a strategy, but its all a small investor has. I might even have to turn to prayer !
GLTAH.
On another topic, one of my mates will be onsite soon, so I should have good ongoing intel ( not commercially sensitive, of course )
