They have drilled two targets. One had three poor holes and was halted due to a Traditional Owner survey, the other has had a no show halfway through the first of two target areas.
The directors collectively own 27% of the company and haven’t sold a share, and nor have any of the top 20 shareholders. In fact a couple have been increasing their positions recently
Anybody would have thought it was funeral reading these comments. They still have another 20+ targets to drill and a some of those are going to work out.
$10,000 pm for accounting services is absolutely fine. That will include the annual report with the audit (a lot of work), and all the interims. There are probably other admin jobs in the package and all the forecasting etc. I don’t know why it is issue.
But the real beef in this company is going to be deal flow, new contracts and new businesses to get cash flow going. The first of those has already been announced with the manganese project. The bulk samples will be very profitable.
The share price took a whack because people got too focussed on Goldsworthy. There are a lot of notable people around town who bought this stock in decent size at 2-3 cents, and they are not going anywhere, because they believe in the vision and in Simon Rushton. Most of them don’t bother reading Hot Copper because of various lunatics trying to influence the share price.
The company has done no real publicity to date, it has all been word of mouth. The stock may drift for a bit, but the buying will come back in when the company moves forward with its next steps. There will be more deals coming through for sure.
M4M Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
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