Yes, I’m aware of SXX and am a shareholder there myself. If I...

Yes, I’m aware of SXX and am a shareholder there myself. If I remember correctly, the company had a market cap of about $1m and had been listed since 1972. It had some dodgy assets in the Philippines and bits and pieces all over the place that could never be confirmed. I believe that SXX was in real bad shape and had several wind up notices issued against it and creditors forever hounding the company for payment of debts.

The way I recall it, Baghdadi took control of SXX and got rid of the management that had been there for 40 years. It’s my understanding that Baghdadi and his associates funded the company by way of loans/capital injections, and got repaid when the Fijian asset was successfully developed and SXX received about $14m in cash over the course of 3 years. A lot of that money was used to repay debts and the balance was invested in DTR.

Based on the most recent share price of DTR, SXX is still in better shape today than before Baghdadi got involved. It has no debts and no one is threatening to bankrupt it.

The real problem with SXX/DTR and most other junior companies is that you have a whole lot of gamblers that don’t know that they are playing roulette. They insist on government bond type assurances for their investment, but roulette type returns, doesn’t work that way. When the roulette returns don’t materialise, these bed wetters lash out and accuse the company and its management of skullduggery when in fact, it’s just an Investement that didn’t pay.

The bedwetters then accuse the key shareholders and directors of being incompetent, the guys that founded and ran Mac Bank for 36 years is incompetent? Give me a break! The guys who was the chief geologist at Placer Dome doesn’t know what he is doing?? Then who does? How about the mining engineer that founded a successful mining contracting business or the former Managing Director of Rothschild Australia? The bedwetters would have us believe that they are incompetent or worse, corrupt, pffft!

I know you have been doing this for a long time, as have I, and we both know that these type of companies are very high risk with potential for very high returns, anyone who can’t accept that risk should go put their money in something else and stop wetting the bed.