Have been following this tale of mismanagement for past 12 months or so.
You are spot on. Sadly the majority of ASX miners, especially the Juniors, are run by self serving, over compensated, incompetent spruikers & Disallowed sellers.
Sure there are exceptions but one has to look hard to find them.
This is a huge reason why overseas investors won't touch ASX listed miners at any Price.
Its crazy, that at these record A$ spot gold price how many gold miners are folding. Check their admin costs which are mind-blowing in cases of even junior explorers. For every $ raised about 20c goes to drilling then look at a company X which has 2 mil shares outstanding & 2 yrs later has 2 billion with most of the proceeds going to Admin & miscellaneous.. & bonuses.
It is indeed the wild wild West.
Hope u all get yr losses back elsewhere. Best,
SG.
DCN Price at posting:
$1.40 Sentiment: None Disclosure: Not Held
& bonuses.
It is indeed the wild wild West.Hope u all get yr losses back elsewhere.
