BC8 0.95% 53.0¢ black cat syndicate limited

Ann: Trading Halt, page-39

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  1. 5,270 Posts.
    lightbulb Created with Sketch. 3973
    Yep, no excuse, except they keep giving excuses over 6 long years for not producing an ounce yet.

    I'm beginning to think that they have no long term goal of producing gold, that their strategy is to actually spend years and years working up separate gold projects to right near the pre-production level, then put them hold and move on to the next one they can do that with, rinse and repeat, and the final aim is to sell the company as development ready with multiple projects, or each project separately at some point if they get good offers.

    This is what the modus operandi is shaping up like, as far as I can tell.

    IPO at 20 cents, over five (5) years later it's looking like a cap raise at potentially around 22 cents, and not a single ounce of gold produced, that seems like a bit of a heart-break for shareholders to me.

    Gw
 
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