probably because it's too easy for directors/board members to line their own pockets. how may "industry junkets" do these people attend each year, most sit on multiple boards as well.
perhaps if companies explored, drilled etc then there would be more confidence in investing on the ASX.
mid-tier mining companies getting brainwashed by mediocre geos returning from the Pilbara and saturating operations with over the top safety protocols that they learned while sifting iron ore. That comes at a cost which is incorporated into production costs, don't forget to add the ridiculous cost of wages and excess staff to facilitate all crap we as a nation have accepted.
I have family friends in the drilling game and I can tell you now, 100%! its never been cheaper to drill. drill prices have been at record lows for 18 months. rigs are available throughout WA to drill yet 75% of gold companies are doing SWA or minimal. why? I have no idea but my gut feeling is too many of these people sitting in west perth haven't got the guts to put their balls on the line like some of our legendary explorers did in the past.
to quote Tim Goyder, "there is no secret, you just have to stick to the plan and drill, drill, drill"
AUC Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
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