This is simply a "life style" company for the directors and managers imo. They collect their salaries/fees and make the occasional announcement about "exciting" things that are happening. Nothing of substance has materialised over the past 3 years. Original brokers covering the story have moved on (clearly they could no longer sell this stock to their clients) and those shareholders who haven't sold yet probably will if there is a reasonable uptick in the sp (just to get out at cost). Large overhang imo. Just wait for further cr to continue safe guarding the fees for managers and directors....its just a matter of time. Most likely it will come on the back of somebody picking up a few surface rocks which show "promising results". Disgraceful and/or incompetent.
LCR Price at posting:
0.5¢ Sentiment: None Disclosure: Held
