To me, the phrase "My holding's, so of course, I am bias???" - featured so prominently -shows a worryingly poor grasp of the English language for someone supposedly intelligently investing on such a large scale.
He's stated several times that he really trusts management, but offers no real basis in fact for this trust. Logically, if you'd been told directly by the MD repeatedly over quite a long period of time now that results are imminent, and none were forthcoming, you'd think the trust would be diminished. We have no real way of knowing what really has been stated to him....the use of the word 'imminent' just parrots what was used in the report on the first set of results. By repeatedly stating that he has been told results are imminent, he has in fact increased the heat on management.
I'm in this because the company just raised a reasonably significant amount of cash - enough to pursue their potentially company-making drilling campaign which could provide significant upside, they supposedly have an R&D refund on the way, there is a gold drilling campaign ahead, and in any case they have their core asset to fall back on no matter what happens - in an environment where I think PM's should be on the rise.
They have not yet issued an excessive amount of shares compared to their peers, and the options - if they can get them in the money - should provide an on-going source of funding.
I'm sure we can work out the minuses for ourselves.
ARD Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
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