re: Ann: Mining Study Update - Yukon Base Met...
I think the original project vendor was supposed to get 20c options soon. I wonder if the sudden cost and capex blowout has anything to do with a plan to sell the asset to someone at a knock down price?
Cant really see how capex costs could have gone up 460% in just over a year. Seems hard to justify if anyone had been doing their work properly?
But I guarantee that any recourse to ASIC will be a complete waste of time. I have been through this sort of thing before and ASIC really couldn't give a rats about this sorts of blowouts.
If a company has a 10% variance in income expectations they have to release guidance to the market, but if they have strip ratios double, cash costs double and capex estimations go up by 460%....
Many of these Perth resource companies are just gambles built on the Australian economies foundation of lies. You cannot believe income statements, you cannot believe balance sheets, you cannot believe anything management says to you and even the contents of ASX releases can be complete guff as we have seen from these dramatic changes.
No future for investors in Australia given that even audited accounts are rubbish (Hastie the most recent) Give it up, it will just drive you to suicide.
ASIC has allowed the ASX to become a s*** sandwich of scams.
OVR Price at posting:
2.0¢ Sentiment: None Disclosure: Held
