gday aspen,
What a shame you didnt stick to your trading strategy! It's amazing how often things turn pear shaped if you move away from your original trade. Well i hope you see 34.9c again :)
my bad smell is still hanging around because I want to see A1 succeed. It will be a great story if it can. I just dont think it will until the current structure. Management are just ignorant and seem to be way too ad-hoc to run a mine. I feel the best thing for A1 would be to recapitalise, get an MD, and pay off all creditors, get some working cap. develope Alpha and get some exploration underway. Beta wont last much longer.
Dec Qtr numbers are going to be the make or break for most investors, IMO. If they cannot demonstrate improved performance after entering the higher grade zones, well, we must question the ability of A1 to mine this reserve. Might not be A1's fault - it could just be the ore, but that doesnt change the fact that forecast costs and production are just figures, not realities. Anyway, getting ahead of myself here - lets see what we get for the qtr.
As far my intentions on buying are concerned, i dont see myself buying anytime soon, to be honest. I see no stability there, and certainly no ability to get A1 through early stages of production and into a higher level of output. They change staff like underwear, and they are not attracting the best of the best because of it. Also, accumulation of 6.7mill debt in a matter of months without telling the market (by choice) is very naughty and makes me wonder what else they dont tell us.
anyway, wishing all the best of luck.
Cheers
Split
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