Hi all a bit confused myself i have been in this for many years and suddenly it appears its all going to be thrown away for a patch of spinifex at the back of Onslow. How do we know how much worth (i.e iron ore is in this ground) quite obviously we have no idea otherwise it would not be proposed that we spend $2M on R&D or if you like drilling holes, in my mind we appear to be swapping approx 300 million Kogi shares for a patch of red dirt. How much are these leases valued at? Is it the equivalent of 300 million shares x 1.5c sorry i can't do the maths my calculator hasn't got enough numbers on it, i think it $4.5M...
If there is not an estimated value or even an estimated tonnage of ore in the ground is it possible we are simply buying a liability? Because of course leases will be required to be maintained and the government leases paid.
Can somebody please ask Craig what he estimates the worth of these leases to be?
Something else that comes to mind is the pump and dump expert with these guys on board owning say 30% of the company by way of shares, how hard would it be for them with the amount of volume they have to push the share price "DOWN" and pick up another 20% of the company shares then own the company, that is still a pump and dump but perhaps not the way most of us had hoped.
I think i may be voting against the resolutions.
These are just my ramblings but after all of these years i would hate to see this go down the toilet.
Footnote somebody told me that the spinifex country is nothing but shit.
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