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0.3¢ moreton resources ltd

Ann: Company Update, page-20

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Maverick1975

2,239 Posts.

574

02/09/19

14:16

Post #: 40277530
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Originally posted by Lou222: ↑

Totally with you guys, other than crappy announcements what has Elks and the prior Management done, all I can think of is -

- Took bankrupt Company in 2013 and still operating today
- Just had the biggest precedent case won in Tax law in the last Decade (at the Federal Court of Australia) Elks, Melik and Walker
- Won the battle with DNRME with the right to be granted The Granite Belt ML / Elks, Melik Feitelson
- Brought a Company that once traded for 180M on the ASX for 50K by out manoeuvring significant bidders for it / Elks
- Holding Mackenzie which in our accounts a few years ago stated E&Y valuation of 20-40M, as valued by ATO/ Elks, Melik and Feitelson
- Current South Burnett Mine under ML in a region which is running out of Coal for local Power Generation (Only ML application within 150km)
- About to have 8M into Company after winning the right to claim the prior $7-9 Million should AI settle for them
- Oh yes, and able it appears to read plan English black letter law, hence potential for further $2-3M back from DES

So assets and cash generation in the 10's of Millions if not hundreds, yeah, I would much rather they could spell and we are still bankrupt........

If any of you have that track record on your resume, step up and have a go, the AGM would be in October if you think your good enough. As for those heavy weight mining guys, Elks apparently Ex Rio for a short period, and haven't they over the last 10 years written off about 20-40 Billion in failed ventures. I think I will stick with what we have thanks....

I am missing something here

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I guess the missing piece is the share price has been a dog for years, the asset has yet again failed to deliver on production, has failed to live up to any financial forecast especially cash generation and is now geared to hilt.

All the bulls bleat on about an exploding silver price yet this stock goes nowhere and produces very little silver. Is Elks suppsoed to be congratulated cause the stock hasnt been delisted? Its tough game but the share prices says it all

Bravo

MRV Price at posting: 0.6¢ Sentiment: None Disclosure: Not Held
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