No offence taken. I operate on a different modus operandi that's all. I have never held PRW - so I'm certainly not bitter about losses.
I am a value investor as opposed to charts, etc.. I bought into RRL about 3 yrs ago because, IMO, the management are the best in the business, and the underlying business is rock solid.
I just don't like UNTRUSTWORTHY (read that however you like) people. My aim is simply to highlight to the less sophisticated investors out there, that PRW's management reneged on their entitlement prospectus commitment to take up their full entitlement. I'm pretty sure ASIC frowns on false statements in prospectuses.
And surely, if they aren't willing to risk their, cough, "hard-earned" (more than $1.1m in salaries for 2010 and 2011), then why should anyone else.
For the record, I am a geo with grad. dip in applied finance and investment. I have examined literally thousands of mining and exploration company's releases/reports over the years.
Unfortunately their are too many UNTRUSTWORTHY people in the mining industry giving it a bad name. It pisses me off. So as a sophisticated investor, I feel a personal responsibility to inform punters of the characteristics of PRW which they should be aware.
Reading your response, you obviously understand the risks of PRW, so my apologies if I offended you/HT. But there are many investors out there who aren't savvy and that is who I am directing my posts to.
Now you know where I am coming from. I'll refrain from the sarcasm, but I can't promise that I won't keep pointing out the facts.
One thing I am in full agreement with you about - PRW is certainly a "dog".
PRW Price at posting:
2.3¢ Sentiment: None Disclosure: Not Held
