crisis, page-2

My experience as an AIM shareholder.
I purchased shares then
throughout 06,07 and 08, I had been advised via announcements of the excellent progress AIM was making at Perkoa on its zinc minesite. During this time I did have concerns about management decisions. But they are the experts. The credentials on their website told me they are, the experience the qualifications and the mining expertise.
Market conditions were robust and AIM had it all or so I thought.
They continured to advise that the mine was progressing, the offtakes and finance were being arranged and excellent initial drill results had been obtained at Mumbwa for copper etc.
I continued to invest on the information being supplied.
The positive announcements kept coming and then in the matter of weeks - June 2008. The minesite is put on a $25million care & maintenance program and the ex MD is being pursued with legal action and the whole company grinds to a halt. My immediate reaction was one of amazement, that indicated to me decisions were being made on a day to day basis. Because none of this was ever indicated in their previous announcements - and I mean just weeks before.
So when the zinc price recovers in approx 2 years as advised by the experts, AIM has disposed of $25m in care an maintenance and chewed up another $15m in fees and exploration. It has over 1 billion shares and then no money.
A zinc project mothballed and possibly a court case still in progress.
The shareprice was .028cents ten years ago and today it is - you guessed it .028 cents.
Literally millions of dollars have been spent and now we have a meeting on 7th August to once again inform us of plans for the future.
10 YEARS with a nil result and millions of shareholders funds down the gurgler and now they are once again going to give us plans for the future. That is after a period when the resource market has never had it so good.

What? and now they want to tell me about plans for the future.
The press should go to this meeting.