EMC 4.17% 12.5¢ everest metals corporation ltd

Dilution of 100% while raising just $2,660,814 is not what I...

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    Dilution of 100% while raising just $2,660,814 is not what I call good news.  If half of the float is worth $2.7m then the value of all shares is $5.4m...  If you are pleased with a performance like this then you may appreciate what the future holds but dilution instead of selling some assets that would certainly raise significantly more cash without the dilution...

    It would appear that management is doing their best to run this company out of gas, with directors fees, a fast exit of the board of directors after receiving the gift, and of course the 100% dilution.  Now we have a refusal to liquidate valuable assets to generate cash without dilution along illustrating the downright contempt the management shows towards the shareholders.  We have not even received the courtesy of an online QR or yearly report something most solvent companies consider to be a staple in their reporting.  Is management afraid that they will have to answer some shareholder questions?...

    Am I happy, obviously not and the reason is that this latest move virtually zeroed the value of TSC as a company and an investment.  It is time that management take the shareholders in consideration, stop issuing new shares and do what is necessary to make TSC profitable for the shareholder.  This crazy move of issuing 100% more shares for just $2.7m just may be repeated after this latest "cash infusion".  $2.7m is pittance in the gold business, it's not enough to even buy a wash plant much less a complete operating gold mine...

    The more I study this cluster the more convinced I become that there needs to be an outside investigation into the intentions of management at TSC and the motivation in giving away the company stock for a song.  Starting with our dearly departed board of directors and their $50,000 windfall to the new CEO who seems satisfied there were no nefarious actions from within (I hope he is not complicit), it is quite apparent there are irregularities within this company that are not anomalies and absolutely need further investigation...  JMHO...
 
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Last
12.5¢
Change
0.005(4.17%)
Mkt cap ! $20.53M
Open High Low Value Volume
12.0¢ 12.5¢ 11.5¢ $99.69K 808.9K

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No. Vol. Price($)
1 20000 12.5¢
 

Sellers (Offers)

Price($) Vol. No.
13.0¢ 100192 3
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Last trade - 15.23pm 14/06/2024 (20 minute delay) ?
Last
12.5¢
  Change
0.005 ( 4.17 %)
Open High Low Volume
11.5¢ 12.5¢ 11.5¢ 57120
Last updated 15.23pm 14/06/2024 ?
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