Well gentlemen, (Reiner001, HELL and Bruce 13) I thank you for your comments. I guess I have been shot down in flames and I deserve it for being so optimistic. Nevertheless I would have thought that 7 or 8 cents constituted some 300% on the price when Patterson's and others did , what I would imagine were conservative valuations. Perhaps I'm wrong. Furthermore, a 10m? facility from ANZ would be no where near enough to develop this field. I also appreciate that Pac Road is not a lender but I'm sure 20m for what the directors may have considered a bit more paper on the market is far better than having to pay interest on borrowed money. Of course here is the rub, no consideration was given to the shareholders, and I have in previous postings expressed my disappointment in their actions. HELL you are absolutely right in being peeved off and I apologise if you thought I'm siding with management. My investing is based strictly on technical and monetary reasons. At the end of the day, if things go sour Pac Road can walk away having lost on an investment which would not cost the directors anything,other than anger from investors. but in the case of a bank loan they will want their money back which would be more of a problem to management.
My interest in this entire shooting match lies in the technical potential of this field. and I repeat that in my view, I think there is a hec of a lot more mineralisation to be found in the ABU,and ABU/JV tenements over the coming couple of decades.
Finally, IMO (and I'm not being obtuse or flippant Reiner001) we are all lenders to these companies. The difference is that us small players have little call on our hard earned whereas major players I suspect have better controls.In banking parlance I guess i'm wrong, but, a matter of opinion.
I trust I have not offended people as this is not my intention in posting. But, I still believe that this is going to be a historic mineral field.
Cheers to all,
and yes, Be patient! lol
Helmenesh
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