last roll of the dice

IMO ARC management have taken an enormous punt on entering into these Australian JV's, when the next round of drilling hasn't commenced at Trenggalek.

A 'irresponsible punt' !!!!

why … because there looks to be the real danger of Anglo American having an option to EXIT the JV on Trenggalek should the drilling that Anglo are funding with the first 1.6 million that Anglo are required to spent on Trenggalek … 1.6 million won't buy much drilling meters either !! with some of that maybe already spent !!!!

IF Anglo were to pull out of Trenggalek, leaving ARC to fund any future exploration … the only hope remaining would be the fully funded vast JV in West Papua with Anglo that may sit idle to 2015/2016 …

Of course, if Anglo persist with Trenggalek after Nov 2013, then ARC's future looks brighter, much brighter … question is what will it may take to keep Anglo interested in Trenggalek … I know have said this before, but it could be a huge turning point for ARC …

I firmly believe Trenggalek has great potential and West Papua even greater (hence I still hold the stock) … but why ARC management has placed the company in a position where a scenario like this could occur is simply 'bad'. It's not like these small Australian JV's where 'hot' and had to be taken this year !!

I hope I have time next year when the AGM is on to return to Australia for it !!

ARC management have put a capital 'R' in risk on the company … we are now standing on the edge of a cliff … Anglo are holding us for now … but if Anglo let go !! the share price may well hit 0.001 and stay there !!! Then again should Trenggalek drill results be good, then ARC look to be in for a good 2014 …

Do any other ARC holders agree with the company starting on these Australian JV's …. comments anyone ? … fellow future millionaires :)

Only my opinion … DYOR.

Go the ARC !!!