Guess this is how most of the tiny companies in exploration are run except Paynes Find its out in the open.
I would say Popal, Bennett, Matich, Salter, Berresford, Zielinski etc were all once in bed together (with free options and cheap shares) but now have spat the dummy.
I can see that no matter what happens (change of total management or not) Paynes Find will have a very bad legacy.
I remember Watso talking about the tenement being all but spent, had a chat to another geologist who has been to the area (last trip was back in 2008 he told me) and said there is still gold but these are more for small quantities that are in small veins but not enough to justify a large commercial operation.
Even if the company can generate some small operation by using the existing battery ($100k a month as Popal says ... and I doubt this can be done) this is just enough to cover administration. I can see Paynes Find becoming a shell company...unless they somehow find a massive discovery that has been missed for the last 100 years.
The pain in Paynes Find continues ...
Still hope for all existing shareholders both Adam Bennett and Paul Berresford get the boot tomorrow. Either of them are left PNE is junk.
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