ero shareholders being set up....

yes, ero shareholders (which include mxr), are being set up for another capital raising.

just over one year ago, ero changed focus, and were going to go gang busters, in gold. profits from aluvial mining was going to put the company in an enviable position

"The Board of Eromanga believes the strength of the current global gold market will be maintained throughout 2010 and that this offers the Company the opportunity to generate significant forecast cash-flows from our new mining operation at Georgetown, Mr Kennedy said. We believe that this will place our Company in the enviable position of being able to
self-fund aggressive exploration programs across both our gold and uranium exploration portfolios.

>>>>>>>

well, that seemed like a great idea at the time - the company paid about $3m for the prospects, did a capital raising for about $2m - and the whole lot has now gone.

the clever lads at ero, change direction again - and of course, this will have to have a capital raising.

on the ero thread, somebody mentioned a link between the vendors of the the new prospect, and ero. One wonders why ero could not have pegged (or have applied for) the tenements in their own name. to make a tenement application, only costs a minimal amount - but it seems that the vendors are going to get heaps of shares and options in ero.

an associated company of ero ... fms, are going to float off their diamond interests - and the directors of fms are going to get a significant percentage of the diamond company - for free.

one wonders who the directors are really working for???? of course, shareholders are needed to provide a market for the stock