Thanks for the reply, I think you worked out the management...

Thanks for the reply, I think you worked out the management well. I also got sucked in due to the low EV/gold resource and they kept drawing analogies with themselves and TIE saying words like multi million ounce potential. And they were also saying the auger targets were larger than the existing resource.

Their business model is like this, which is similar to many others.

• Present a good story which may sound plausible.
• Raise money from institutions and let them sell to retail suckers.
• Pay yourself and maintain your lifestyle.
• Travel to different places and attend presentations.
• Raise more money at deep discount
• Repeat the cycle
• Raise more money at even lower price
• Repeat cycle

From 20c to 1c here we are! Sad story really. Some people may make some money but I doubt long term holders will get their money back. This is the opposite of investment.