Goodoil, you may be correct, but based on your terrible track record I'm beyond skeptical. You have been telling posters to buy for more than 12 months and the stock has fallen nearly 90% during this time. As a self confessed major shareholder I would suggest you're view is somewhat conflicted wouldn't you?
@Graphene, I'm struggling to know what to say. Conspiracy #127 is it? Let's see, the Chinese are manipulating the price down for a takeover, the Tanzanian government will fund the entire project, the non-holders are paid downrampers who are working for the competition. And now this? I suggest you dial back on the espresso and take up yoga.
@Names little, the timeline for an SPP and rights issue is roughly the same. However, you missed my point which was they should have completed a
placement for $1 million immediately, remember two directors wanted $600,000 so they could have easily found another $400,000. TM could even get out his cheque book. And then raise the balance (whatever number you think appropriate, say a further $1 million) via a
rights issue. The VWAP is an issue on this SPP because if the share price drifts lower ultimately so will the SPP price. And given the share price has been in a 14 month decline I thinks it's highly likely to do exactly that.
@wayne25 sensible post and I agree with you.
