SLT select exploration limited

I still hold 1m+ furniture.....not sure if that means anything,...

  1. 12,503 Posts.
    I still hold 1m+ furniture.....not sure if that means anything, but I consider myself pretty unfortunate to be stuck in this so far

    Grange was behind CZI + JCS's recent RTO into tech sector

    so no doubt this will get another pump in another day when they line up another deal

    but question is when.

    they watched SP destruction for over 3 years now, yet nothing was done, not even a pulse. must be some record there

    I called them several times last year to let them know their East Africa exploration projects are way too early stage to gain any market traction

    they just raised $1m at 1c back then, but I said if you dont seriously consider change of direction now, you are going to run through that $1m very soon and shareholders will face another dilution at lower price.

    Look what happened.....

    their main concerns back then

    1. they just backdoored into resources from a dead biotech years ago, now going back into tech/biotech again will make them look like fools.

    my thoughts: who cares as long as you can get price up. you just raised at 1c, if you make your next raise at 5c, you are all heroes. (Spencer resources/bulletproof & the whole tech sector was going crazy). stay with resources, and next raise at 0.005, you guys look even more silly.

    2. they think their East Africa projects will be long term winners. they wanna keep going at it.

    my thoughts: fine if you have tens of million bucks sitting around that will support you going at it for 5 years at least. but truth is they only had $1m and the projects were all so early stage, its just not worth it. their drive to achieve long term goals is being done at expenses of some massive short term dilution risk to shareholders. Good management needs to strike the balance.

    No use blowing out your register to billion shares again before you even found half decent deposit. especially just after they had a massive consolidation already


    guess what, they just didnt listen.

    now they decide to wake up.

    but Im not confident with this bunch anymore

    waiting for the next big pump to sell out, thats it

 
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