this is nothing short of hilariousfatstocks, in one years time...

this is nothing short of hilarious

fatstocks, in one years time you will be eating your words. on what basis do you make the claim that selheim will have the lowest cost gold production in australia????. watso will predict that in one years time, mxr will get rid of selheim.

This could be a great project for a syndicate, where the return depends on the input. with a syndicate, and if something goes wrong, or if there are delays, then members do not count the real cost, as they forget about foregone income. if people work for a company, then they expect to get paid, even if there are hold ups

it obviously sounds lovely to sell nuggets at a premium. shareholders get a 10% discount. if watso were interested in buying a nugget, he would buy 100 shares in mxr, thus getting the discount - maybe others will do the same thing. then there is the gst component. there are obviously higher selling costs, as each nugget (and this goes for the small nuggets as well) are all individually handled etc etc. Watso wonders how much extra the company actually gains (particularly with the smaller nuggets) by selling them individually

mxr will most unlikely be able to place the shares, untill the share price exceeds 5c . investors who take up placements, get them at discounts, not premiums. there is no doubt that fms took up their entitlements . indeed, it will be interesting to see how many shares the substantial shareholders, and directors took up. if the top 5 shareholders (which includes directors), took up their entitlements, then 16.3m shares would have been issued, which would have raised $815,000. only 15.8m shares were applied for, from all shareholders. fatstocks claimed that he was going to apply for extra - so one can be assured that fatstocks got his over subscription

the bottom line is that the top shareholders were not interested in taking up their entitlements

one can expect a placement at about 3.5c. for the time being that company cannot really do all that much, as all plans will be put on hold. trial production will continue for the time being, and in the meantime, admin costs will eat away at available cash reserves.



ok fatstocks - time for you to do the customary, and attack non stock holders. watso has noticed that as a stock holder in gda, and the prime ramper, that you have gone strangely quiet on the gda threads. instead or ramping stocks continuously, you should learn to be more objective in your postings - which is what watso tries to do on the stocks that he holds (rsg, kcn)