I can remember selling this stock for 17.5c pre consolidation which would be $2.62+ at today's prices, so it hasn't been all bad news for early investors, but that was 11 years ago.
They were showing good progress and aiming to become a Gold producer so lots of interest then. Now they have have gone back to being an Explorer with no ambitions of production so there is little upside to the stock, apart from a takeover for silly money or part of a joint venture.
Eventually the only way to support the financial needs of the company will be by constant dilution by fund raising etc. Lets not forget there were 4+ Billion shares before consolidation. I know people will spout on about the ethics of the previous board and how they conned us all but in reality they were just over ambitious with what was there and still is.
Tiredness is a very appropriate word, after a quarter of a century of going nowhere I am sure investors are either tired or dead. I still have quite a large number of shares which through trading owe me nothing, so they just sit there as dead money and a capital tax loss for the future.
I also feel that if I was a Director of a gold company that had high prospects I would be investing some of the high salary I was drawing buying some of the recent unloaded shares offered.
The new PRX name may hide the poor performance of ABM to the new small investor but the investors who make a difference to the share price will be well aware of the situation and I think would have put it well on the back burner.
Just all my 2c of course and looking forward to the $2 share that was so widely predicted after consolidation
Add to My Watchlist
What is My Watchlist?
