MTB 0.00% 0.2¢ mount burgess mining nl

I'd love to say it's company changing news, but sadly its the...

  1. 605 Posts.
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    I'd love to say it's company changing news, but sadly its the same old story...it looks awsome, but nothing ever happens in this Company!

    Talk of a revised scoping report with the prospect of a substantial improvement in the resource has never materialized (despite the Company saying that it was going to happen 2 years ago), drilling is taking forever and with the daily cashburn (largely to fund admin costs and management salaries), the longer it takes the poorer we as shareholders become and the closer the company gets to a point where it can't raise funds any further.

    I think we are well down that road already....something needs to change, maybe some new young blood is needed in the Company.

    The existing management are awsome and still have a role to play, but maybe we need a change in leadership and a change in strategy.

    Wearing my shareholders hat I would raise a lot of money now, possibly split the Company (ensuring existing shareholders participate equally in both companies), possibly one listed in London focusing on diamonds and rare earth and the other on the ASX on base metals.

    I would step up operations and not follow the existing strategy of slow small steps where the focus seems to be on raising funds to pay for a bit of test work and a bit of drilling and salaries for as long as possible.

    They have a great zinc resource which needs to be expanded, they have some great licenses, they have a rig drilling some very intereetsing rare earth, daimond and zinc prospects, they have some VERY loyal and patient shareholders and a listing on the ASX which goes back a long way.
 
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