Sydney,
You have to be a fool. There are so many people calling this a DOG and there is valid reasons. They keep spending shareholders funds over $100m and have an operating loss of just a little over 5m.
So we have the rest of the money gone?
They have no cash.....so where has all the money gone?
Well its hidden in the assets which they so proudly revalue up each year based on its value if they produced 300k oz in a few years.
The rest has been spent on so called "Development" If so much has bee nspent on development why arent they proudcing at levels quoted many years ago?
Can I suggest you do read the operating margin and look at the Quarterly Reports for the last 5 years on the ASX platform and looks at the production costs, development costs, admin charges and then look at the cash flow from operations.
Then look at the cash spent on investing and the funds raised.
If you have any common sense you will realise that the other bloggers are not downramping but highlighting the failed proimises over and over again. Thats not downramping thats facts.
Can I suggest you wait a few months and you will be able to get this stock cheaper. There has only been one winner from this company and its the Board and Management pulling their big salaries and delivering more failed promises.
The story is the same just the amount the investors are putting get bigger.
If there was such a good resource they would be drilling the hell out of it to increase the JORC categories.
When something smells fishy it usually is. If you want a line of stock happy to get it for you. Just let me know.
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