they have doubled their resources in the last 12 months. thats...

they have doubled their resources in the last 12 months. thats where the drilling dollars went.?!- Not by drilling, by dropping cutoffs and going over old data and "re-interpreting"

"As a result, a number of important and positive outcomes have been achieved over the past 12
months whose highlights include:
• An 99% increase in Mineral Resource at Lake Carey from 439,000oz @ 2.3 g/t Au to 874,000*oz @ 2.4 g/t Au : Halved the cutoff at Red october, "re-imagined Fortitude", only Devon and Hill East contained new drilling in the 8 releases - trust me mate I read them and want them to be real, but things like dropping the cutoff and saying you've doubled the resource is very disingenious.
Consider that the ave grade mining Red Oct was 3ish g/t yet the resource was origiannly 82k Oz @ 13.2g/t ("doubled" by Matsa trickery to 173k Oz @ 5.8g/t) yet mining >3 was impossible???

• A scoping study into a Matsa owned and operated processing plant at Lake Carey returned a favourable outcome improving the bottom line at the Fortitude mine by A$33M: How much did this study consist considering they states "accurate +/- 40%" also who is gonna give these guys 60 million? Anyone with that much cash would demand a new board so they'll probably knock it back

• Positive cash flow of A$96M from the Fortitude and Devon pits utilising a proposed Matsa processing plant:a non-esistant plant that wont get off the ground without a 60M cash injection

• Adopted a clear strategic pathway to realising vision of transitioning from an explorer with periodic small scale mining to a long term sustainable miner with processing capacity: meaningless statement, they were not doing "periodic small scale mining" as they tried to keep Red October going whilst it bled money.

• Suspension* of production at the Red October underground mine to enable a full drill out, mine design and rescheduling of the operation: The "aggressive drilling campaign" they raised 3.4M for in July and have not touched red october? What is the hold-up?

• Established resource and mine development hubs to provide future operational and scheduling efficiencies: could be the most meaningless statement yet, not sure any self respecting company would consider "we have grouped our tenements by location into "hubs""

• Disciplined and diligent execution of a robust exploration and development project pipeline clearly aimed at delivering on the strategy: Again, this doesnt actually mean anything. If they raised 14M for drilling and spent 3.8M on exploration then a lot of money has gone down the drain on +/- 40% accuracy studies (and cushy wages for the board + invoices to polis other businesses)

If you are betting on gold rising, then picking a cheap 20m stock, with several niche assets can return cash flows. Cant argue with that, damage may be done on market confidence with these guys tho. I'm certainly not expecting any of my hard earned back

I'm wondering when you'll lose faith like everyone else who has had thier money burnt over the years steven
Fingers crossed for a miracle and all us LTH eating crow, but i wont hold my breath