So fascinating to watch the spin here and so curious that this management survives and continues to pull rabbits out of thin air. I don't know anything about the newest next big thing - ie this other stock that they have hold of but I know that what they are mining at Empire was investigated and passed over by what ? more than ten reputable mining exploration companies. - just read the prospectus.! But ERL apparently had better knowledge than all of them. And when I came on board -all starry eyes because I read it was easy to dig up and process a bit of dirt and get gold with new extraction processes and all they had to do was move a bit of road and the first gold would be poured by last January or something.......I believed them.
I didn't research till it was too late..... dodgy bankrupt company listed at same address of their partner, trying to get rid of the Empire lease for 4 million bucks by sucking in Anglo Gold or someone of that ilk. Hooking NRW to do their mining till NRW took a second look and decided it didn't fit with their culture ... not even for a big cut of the gold would they do it.
I appreciate the savvyness of people here who are able to trade the pips without the emotional investment like Jacko but this company leaves me with such a bad taste in my mouth that I just couldn't do it .
The thing that gets me the worst was back in the days when I still believed in and cared about ERL I rang a couple of times and each time came away thinking I had dealt with an educated, honest and straightforward geologist who had full confidence in ERL.
What a joke.
For all of us who hold shares I hope they actually do pull a rabbit out of the hat but I think, if they do, they will be as surprised as some of the shareholders.
ERL Price at posting:
2.3¢ Sentiment: None Disclosure: Held
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