Hi Quartz, you raise good points but here are my thoughts on each of them.
I agree that Jacob and Vince are getting paid nicely but they also hold many shares so they want to see a higher SP just like we are. Also Vince is now CEO & Managing Director so he would be putting a few hours into this. Don't forget he has been on the board and helped many other ASX junior explorers and there is no way he would join ARO if it could damage his reputation (even though he is getting paid for it).
As for the expenditure - Yes they are using quite a lot but that's quite normal for junior exploration companies. Don't forget that we have THREE different projects in operation at the moment across two continents. I'd rather them spend the cash now and perform these tests quickly, rather than only spending say $100k a quarter and waiting 10 years for results to eventuate.
And yes the SOI isn't ideal - But we are not even close to the amount of SOI other explorers currently have. Just look at 88E and ROG and their recent runs!
Ultimately ARO has:
Nevada Project - Gold
Governor Broome Project - Heavy Minerals
Kimberley Project - Diamonds
Cash for close to 12 months
A CEO/Managing Director with great experience
Final test results due for Governor Broome this week!
Three projects and all of this for a MC of only $13M... I think it's quite clear that ARO is hugely undervalued right now.
ARO Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
