Thought I'd start a new thread since Timbo and his 12c cometh targets are nowhere to be seen
There's a saying that goes "Production might be Princely but Cash is Always King"
with the a report coming out today that 1/3rd of all ASX companies are struggling financially most of them in the resource sector either debt laden miners or tiny explorers with no funds
In such a light a company that is really cashed up and trading at a deep discount to its cash backing may seem boring and lacking exploration sex appeal but it certainly isn't at any risk of going under due to lack of funding or being strapped for cash with its $15m sitting in the bank
LMR Price at posting:
4.0¢ Sentiment: None Disclosure: Held
