king dragon sold most of their shares during the year, only have 38 mill left.
Look if ARO did not have these tenements I would be long gone, these tenements and the ground they are in are worth a lot more than current market cap,
Macphee is supposed to have high hopes but I find it hard to value, doolgunna has other companies that have found gold and copper and can base a valuation on their market cap.
The problem is management refuse to give clear indication on what they are doing now, what will follow and timeframes for these, or in fact an indication at all.
They have had plenty of time to plan and think they have, but refuse to tell shareholders even though they have indicated to some they will do this.
The reasons for failing to do this we can all have our thoughts.
The placement not only halted momentum but the 20 mill sell order, even though it is a small percentage of the company, is either designed to halt buying/increase selling, or it is one of the placement takers simply cashing in on this apparently (from the information shareholders have) unnecessary placement
Unnecessary because they did not need the money, if they need it for something else then the shareholders should be told, like their hint of acquisitions, but this hint has been made by the company for more than 6 months with no result.
Look great potential here I think, but shareholders I know are questioning if the management are doing the right thing by current shareholders, or those wanting to be shareholders or shareholders wanting a greater stake through placements at the expense of current shareholders.
ARO Price at posting:
0.6¢ Sentiment: None Disclosure: Held
