Is this a good opportunity to average down or are we expecting more pain? There is a wall of buyers at 1c so it looks like there is good support there.
The problem is, I don't want to average down for the sake of it. I just can't see this being a BUY at the moment. Missed promises, missed deadlines, dilution etc. What's there to like about it at the moment?
If the rumors are true and Mick is in China, then he hopefully is closing out an off take deal for Molyhil. If we don't hear anything on this front for the rest of the year then you can assume that he has failed again to secure an off take.
Now if they announce next week that they have sorted out the Dundas lease option and will start drilling within the next fortnight then I'm buying up. If they don't, then I don't see what point there is in putting any more funds into this until they can prove they can deliver.
The continual capital raisings which lead to dilution only serve to keep these people employed. They have done nothing to increase shareholder value thus far. The latest CR hopefully will be used to fund mining operations, not to fund the Christmas shopping list.
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