seuss I agree the board is light and inexperienced in this industry. There is no face or identity, industry presentation etc etc.I agree that the project looks reasonable, however it is only a theoretical target.The reported size caught my interest so I dug further. The last annual report shows the MD on a package of $880k.Non exec directors on $75k.Seems a bit rich for a company that has no mining experience or little qualification, and no iron ore experience. If the company claims to be an investment company, they have not had much luck at that either. Significant losses since Metal Storm and that was 10 years ago! I do not believe that the market will will have a stomach for this. Most of the capital raising would go back into the pocket of management. Not much of a model for discovering an ore deposit.Little wonder they have had to send delegates to India.
CHF Price at posting:
3.5¢ Sentiment: None Disclosure: Not Held
