Michaellilian33 Things are a little touchy around here with the further dilution coming on stream in the morning and the gap at 10c.
But I'll give you my tuppence worth;
During this global meltdown a great many senior management have been taking significant cuts, but not these guys, the MD just awarded himself a blistering $1,000,000 dollar bonus, diluting the company for the second time in about 8 months for a combined total of around 22 million bucks, this on the heels of countless previous capital raisings with precious little to show for it. The MD has done absolutely nothing remarkable in any way to support such a generous gift.
The share price was around 12c in 2017 and has been pegged down through dilution all the way.
I'm sure shareholders have provided a great lifestyle for these highly paid 'caretakers'.
It appears they are simply awaiting the price of silver to attract a genuine buyer/operator.
If a buyer does not show up soon they will almost certainly be tapping holders again sooner than you might expect.
To be fair, the price of silver has not yet reached a level that would make this project viable, $30 USD apparently puts it close, so apart from drilling a few more holes and putting in an application they have had to try and look occupied.
Unfortunately during this holding pattern they have been burning copious amounts of cash and the MD's recent cracking bonus sums them up nicely.
The best approach here has been to use it as a trading vehicle as it tends to cycle in the mire, if silver really takes off as I expect it to, there will be a good trade, if a buyer turns up that would be the game changer.
