Short term investors the winners ! Story of the junior mining sector since 2013
Board changes June - Sept 2015 generated almost 4x returns for investors who got in then.
Hedge Fund IRR must be 70%+ for a few months work equally over $1M+ profit in record speed.
Pybar acquired assets at good price according to Independent Expert and did not steal the assets from investors.
Only people who did not do well were those who backed and persisted with the old management team and watched the stock capitulate - lesson learned is old dogs can't learn new tricks - and taking profit or stop losses are a must in the junior end of market.
No evidence that funding Dargues was going to be easy and Bendigo liability still not fully closed out - potential bullet dodged here. Henty production will be judged in hindsight (how long and how much it costs)
Market still showing no sign of easy funding for non-producing gold assets juniors not being run over in a rush for new capital - producers on other hand are having money thrown at them from all directions.
Gold is still hot but you need asset and proven value creators - one part of puzzle not enough at junior end of sector.
RIP - UML
UML Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
