In addition to my previous post, I reckon 99.5% of holders are on a huge loss, with only those holders that got in around 0.003 to 0.006 post consolidation perhaps are not.
But with so many holders on a loss with majority on an unmarketable parcel to sell, we are all in the same boat together.
I've seen many shares go under and sadly some that I have been holding, but this cjc board I believe I can trust. Yes the share price has fallen, probably close to 98%, but fact is, the directors also invest in this company and throw in their own money when required. They have kept this company going since the 90's, and for small exploration company to survive almost 30 years through tough economic times, the directors have done exceedingly well.
Directors have invested a lot of time to read the market, and yes, Mongolia was a great asset, but as per previous announcement, if investors don't see value in it, then they had no choice but to sell it off. And the asset they acquired from Vale in Brazil may hold better value in the long term.
I agree they need funding, but they have always received funding in the past, and last AGM, shareholders approved the 0.007 placement which can happen at any time the company needs it.
In addition to this, I frequently call the company to ensure all is tracking in the right direction, and every time I ring, they answer very courteously and professionally.
So yes some of you can attack the company and the directors, and I was at one syage angry too seeing my portfolio diminish, but personally I believe they have done an exceptional job to keep the company going.
Directors listen to the investors and always seek to improve their business. And their communication to shareholders is second to none. That's why they moved from Mongolia to Brazil.
DYOR.
VAL Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
