What? They have spent $12M in 2 years on mining, and what do they have to show for that? They pumped millions into Youanmi, then realised that they had to spend an additional $3M due to arrangements, realised they didnt have the funds because the CR was a flop, so they dumped the rights.
At 4c, this company has a market cap of $23M. So in 2 years they spent cash to the tune of 50% of there market cap on something that ultimately delivered nothing.
In that time, they were fined at Ravensthorpe, and have underspent on their tenements to the tune of $300k.
The company stays affloat from government handouts because shareholders dont have the confidence.
Makes me think of Oliver. "Please sir, I want some more"
LIT Price at posting:
4.0¢ Sentiment: Sell Disclosure: Not Held
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