Best opportunity sub 1c?, page-2

@Budfox

The sweden deal should be put on ice in favour of our wholly owned tenements in QLD and WA.

With $1.5M in cash, funds must be prioritised

The Sweden JV isn't bad in that it gives us a free 15 month "option" over the tenement effectively, but spending $1.5M to earn a 10% interest isn't going to excite the market

Spending that money on our wholly owned tenements will prove up value much quicker

It's currently trading with EV of $750K or there about, meaning one of the cheapest shells kicking about. If management stuck to timelines and focused on proving value for shareholder as opposed to Sasak technology and related party grounds (Sweden), then the SP might be healthier

I'd be in favour of a board spill, a clean out of the assets (Sweden), seek JV's interest on the QLD tenements and then seek to acquire a high grade exploration play. The board seems intent on throwing funds at drilling to prove Sasak, not find gold .. or prove up Norlidean deposits for related parties

Any 1/2 decent deal bought in here would double the SP, yet these guys can't seem to do it

A speccy capped at $2M with $1.5M cash should be investing in 100% owned projects, not blowing it's bank balance for a 10% interest

Anyone know what the register looks like and whether a S249D is likely to get up ?