Ann: Project Update - Bekisopa and Satrokala Iron Ore Projects, page-7

I agree with you. No update on such an important element of AKO's future capital structure isn't a great sign, particularly when AKO stated the process of selecting a strategic investor would be completed by end June. No announcement only puts further downward pressure on the share price (which has fallen a further 6% since the latest equity issue).

Even "crabpest" concedes that there must be another major seller in addition to Stu (or a lot of churning occurring amongst the small shareholders).

So where does that leave us?

AKO keeps on spending its precious capital on marketing (thru Bibby attending conferences around the world) etc. but has neither broadened significantly its number of shareholders nor generated significant interest in the stock (as we would have seen the share price rise). Its marketing is a big fail. Could it be that it is failing to attract (strategic) investors with deep pockets as well?

So we wait, wait and wait for the update on what is happening on the strategic investor front.
What will our fate be?
Continued deterioration in the share price or a significant 'iron ore player' emerging that will be the saviour.

What worries me is that the share price continues to trend south.