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clock Created with Sketch. 18/03/17
15:05
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Originally posted by schubox
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Lol groundzero, on the subject of feeling like you've been bent over. With regard to financing and developing AB, I really do hope management don't make the mistake that LCY did some years ago. They welcomed a cornerstone investor aboard in NMDC (National Mineral Development Corporation of India) to develop their Mt Bevan Iron Ore Project with a 49% stake in the Co for $25m only to eventually have to raise more capital by issuing another 30% handing over majority control of the company only to have NMDC sit on their hands and do next to nothing to develop the project. Sounded like great news at the time with the SP hitting a high around $0.22 Today the Iron Ore deposit is still undeveloped and the SP $0.005 with shareholders recently trying to launch a class action.
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Hi Schubox
(20min delay)