I'm amused that you wrote about my questions, but its unfortunate that you didn't answer any of them, and that despite my asking them several times NO ONE on this discussion has answered any of them.
Rather than answer him, which is a waste of my time, instead I thought I'd do a summary, to you all, the readers, that saves all our time. This is what is unanswered still:
After 12 years, 3 rejected Environmental report attempts, and still NO WORD from the company as to why and what the problems are and when it will be fixed. NRO's reply to this absurdly long period: Standard Timeline. I'm sorry but that is an ignorant and insulting answer to everyone"s intelligence. Until we hear different, I can only assume they have a very big problem they don't know how to fix, period. I will say it over and over because it is so important. There is NO mining without a sound agreed upon Evvironmental plan. All they have is unsupported rumors that seem to be used for trading.
The other major issue is the option agreement the company entered into with the Chinese. NRO, tells me below its an MOU, which stands for a Memorandum of Understanding he say it is non-binding. He also seems to insinuate that all MOUs are non-binding which is not true. Depending how they are written they can be binding or non-binding. The important point is that we don't know anything about the agreement. We don't know whether it is binding or not. Equally important, We don't know any of the terms of it. The three most important terms in this sort of agreement are the financial terms, that is, what agreement was made as to the price of the shares offered by the company to Chinese investors.As of now, we have no idea. The only thing we know, because the Chinese announced it is how much equity was offered by the company to the Chinese. We know because the Chinese announced that the option allows them to take up an additional equity stake up to 38% to bring their holdings to 60%. Of course we don't know this for sure because we haven't seen the agreement. Third, we don't know the term of the agreement, that is, how long have they been offered this stock at this price. This a huge issue that has huge implications for all investors and the Company. While they have not, and continue to be unwilling to release the whole document, their not doing so makes it impossible for we investors to evaluate what it means to our investments.
That is just wrong in my book. and I am not convinced still that the ASX shouldn't be looking into it.
Those are the two that issues that are most important and most worrying to me. But as I spend more time talking to people familiar with this company, I have been amazed at the number of additional issues and problems with them that come up in conversation. And I am amazed at the vitriol that those on this sight bring to me as I talk about these issues and look for answers.
Oh, and lastly for now, yesterday, in the face of my questions, with no real Company news we all got new "research" posted hat ups the target price by 300% to 500%. As i read it, at the bottom of the report, I found a disclaimer saying that this research was paid for by the Company who were involved in its production. Gee what a coincidence, anyone interested in a good deal on the Brooklyn Bridge. You gotta laugh, or I do anyway. have great days everybody. Ciao.
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