Ann: Technical Study Shows Viability of Saudi Plant, page-54

Its very sad to see the same story getting repeated.

I was actually thinking next announcement will be CR. Their admin cost is so high, close to $2m per quarter. Luckily all drilling etc was done in PFS in 2011, so nothing to spend there. So its salary, travel, interviews, hotels, entertaining prospective non-binding clients, etc - all fun things to take care of. They had 3.5m in Oct end. So money will run out by Feb - how will they pay themselves, what will happen to the fun?

I had to bite the bullet at Dino's time as I have written before. I had not done enough research. I lost a decent amount, my buys were 11c and I exited at 8c. By the time I exited, I had done a lot of research on this and my gut feel at that time was that this is not economically viable. PFS was done in 2011, for 13 years many have come and gone, no one has made any binding agreement, let alone go to production. Why? Why did Dino leave millions of dollars on table, he just had to gets sp I think above 20/30 or so?

But every day I come and read the posts, don't know why.

I am not surprised by today's announcement. I was not expecting anything positive. I was just curious to see what new "spin" would be put. Every announcement is different. Every announcement does not remember about last announcement. Its so convenient. One can start fresh. There is no accountability or continuance of a theme, purpose etc.

I wrote 5 to 6 posts in detail about all my findings - in August/September few months back. If it was 2 years back and someone had provided me that info, I would have never got in. I got out once I found it for myself.

I sincerely hope something good happens here, only thing is that odds are not good. But one never knows, as miracles do happen.

There are a number of my posts from August/September, if anyone interested. Just putting link for couple, there are more. All the best

https://hotcopper.com.au/threads/interview-magnum-positioned-to-accelerate-buena-vista-through-successful-capital-raise.7582448/#post-69881014

https://hotcopper.com.au/threads/interview-magnum-positioned-to-accelerate-buena-vista-through-successful-capital-raise.7582448/#post-69880008