The share price (of 8c) reflects the rumours doing the market at...

The share price (of 8c) reflects the rumours doing the market at the moment that the TSX listing is no closer to reality than it was before Christmas. In fact, if you believe what you hear it is further away from happening. It is apparent that the stock (if listed) cannot meet the exchange requirments on a number of criteria (liquidity, market cap. and net assets).

Also, there are some mighty pissed off investors that recently took placement stock only to see the money get diverted into Joe's pockets (some $3m). At least 1 of these investors is putting stock on the market and will continue to do so at whatever the price (perhaps to teach Joe a lesson).

Then there is the exploration rumours. Firstly, it had commenced. Then, it was about to commence. Now it has been put off because of bad weather. Could it be that the drilling has commenced, but the indicative results are not what had been hoped for??? Whatever the situation is, it would be really nice to actually get an official position from the company.

At this point in time, there is no news other than the lame half yearly report (which was simply a re-hash of previous information). So, where to from here???

My money is on a mass exodus of the long term investors very shortly - at any price. The fact that Joe has cleared his personal debts (from the company) is not a sign of confidence. It looks like another wind-up and re-start in a new shell is a real possibility. And just in time for some tax loss selling before the end of June.