This is a stock that I keep watching. I am out entirely because the management is so bad, no other reason. The best hope for shareholders now is either a takeover or it turns itself into a royalty company or does a deal with another miner to exploit the resource. The major problem with that is that all that money spent on drilling has been wasted because management never got it into their thick heads that the tenement was not in WA. They now have nothing to negotiate with and there is not enough working capital left to correct past mistakes.
For me the writing was on the wall when the company raised an inadequate amount of capital through Tolhurst (form memory) at 42cts because they could do that WITHOUT SHAREHOLDER APPROVAL. That was the warning red light that the management had absolutely no respect for shareholder interests. Also they telegraphed grandiose mining plans that would require a massive dilution down the track. Share price now under 7 cts...unbelieveble !
Good luck PeterH
GDR
goldstar resources nl
