The party is over. Sorry to tell you how it really is., page-2

Sounds like a LOT of companies on the ASX (I call them CEO lifestyle stocks). Have followed a lot that seem to be MD and board retirement funds disguised as promising mining explorers. The give-away is :-

a) This is our year!
b) Admin and wages being 75%+ and drilling is a token gesture and never shows anything
c) Heaps of joint ventures that amount to nothing but fluff as a joint venture in something that never happens... still never happens
d) Acquiring "good prospects" after a capital raise... but selling it 3ish years later to cover wages and admin for next 2 years. (after people that bought in for it have sold off)
e) Companies run by solicitors instead of geologists and specialist miners.