MAT 8.00% 2.7¢ matsa resources limited

Its not a discount entry if the mgmt keeps dragging the SP down...

  1. 402 Posts.
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    Its not a discount entry if the mgmt keeps dragging the SP down tho is it. What exactly has changed to reverse the trend. What do they say about fish and rot?

    All the disgruntled LTHs selling off wont turn the company around. For that you need a clear strategy that doesnt chage on a whim to chase trends.
    they need to do what they say for a change

    eg 15M raised last FY for "aggressive drilling campaign" that ended up being about 10 holes, and selling off assets in Lake Carey and to Bulletin to fund what? All they did was "re-imagine" resources eg fortitude increasing 100k Oz.
    Seems very fishy theres no drilling for years, all of a sudden the focus is on building Oz and they can adjust a few parameters, no new data yet resource doubled. After the last decade why would anyone belive the Oz that they say are there?

    They were losing money at RO when gold was $2700, yet thought halfing the cutoff grade to double the resource was a good strategy- a strategy to what? Certainly not to make money. Maybe to dupe a few more punters on the resource size:MC?

    If you say your gonna raise 3.38M for drilling, then drill something. Dont just burn the money

    The best thing for this company is a new change of board, get a team in that foucs on expanding a resource the right way (you know, actually drilling, not just selling ground to stay afloat) get rid of those who care more about trying to impress the market.

    PS "maintained thier presence in Thailand" is some creative wording - from my reading of the FY statements they spent 500k there last FY and then said in the text they'd abandoned all activities due to covid - now thats dodgy

    Anyway steve I hope you lose a bit less cash than myself mitre zazoore and the countless other LTHs. You seem especially optimistic so I give it 12 months til you're disgruntled.

    Best of luck

 
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