Ann: Carlow Castle Update and Proposed Capital Raise, page-96

Better check your login details then because it looks like this guy successfully hijacked your account in June 2020.



But I agree with you that the share price valuation ran ahead of itself on Haveiron nearology, those familiar with the company knew what was in store for that story, lots of promises and zero delivery, they didn't even complete their own geochemical MMI survey and drilled the "worst" of their targets and got chased out by the wet season, exactly as many predicted here. There is still no justification to be drilling for Haveiron style targets under cover that is even deeper, and more prohibitive to explore under than what GGP or NCM have.

That coupled with the older RC drilling at Carlow Castle - some without geological supervision and without any down hole surveys, and coupled with the holes to the centre of the earth, years wasted in conglomerate gold fantasies and their deceptive conduct about the fate of the Radio Hill plant easily make ARV one of the most geologically incompetent exploration companies I have ever seen, and that includes some real stinkers. What Midnight26 was alluding to was a classic story of errors in resource modelling with Leap (of faith) Frog, along with very complex geology not being understood, as well as ridiculously low cut-off grades (and overly optimistic metal price assumptions) being selected for Au and Cu that let the Leapfrog implicit modelling run wild.

Your points about possible asset stripping are on the money, ARV management love making deals and chasing after the next shiny thing, thus diluting shareholders into oblivion and they have some great ground but such a poor exploration track record that they have achieved geological notoriety for all the wrong reasons. In this case past performance has been an excellent indicator of future performance.