We’ve all been speculating on the reason processing tonnage through the mill is moving like a slow boat to China for the past 3+ years from no funds ,no petrol,no workers,seasonal rain,tribal warfare,murders at midnight,lack of modern machinery etc,etc.For me the puzzle widens when the fact that the majority vote in favour of all resolutions put forward by Tracy and the board is won by overwhelming landslide suggests he has strong support from all major holders,now this could be the that at a mc of just over $2m that they can see the only chance of moving in an upward direction is to let Tracy and co have full control and hope for the best.The land is highly rich in gold and may be hard to mine but if the highlanders are pulling out kg’s with picks and shovels one would think Tracy is not serious at this point in time.Tracy,Pilmer and Goward or all as one may be navigating a tricky path as could it be possible that there is someone on standby waiting behind the scenes for when/if their shareholding’s takeoff ready to freeze their assets with a caveat/lawsuit for some unknown reason. So as Tracy has been playing a watch and see game whilst he tries to iron out these wrinkles whatever they may be,as there have been issues in the past with bad debts and wind up procedures.At the end of the day I doubt I’ll ever get my 7k back but stirring the pot won’t encourage him to look after shareholders but you would have to think that it’s in his best interests to make a better fist of things so that he himself gets to cash in eventually,that is unless he’s slowly and steadily skimming along nicely as he’s had plenty of time on his hands to do it.Comn Tracy we’ll stop stirring the pot and you stop smoking it and Bob’s your uncle in the village can give you a hand getting a bit more than one ton a day through the mill .
NIU Price at posting:
2.0¢ Sentiment: None Disclosure: Held
