no guts no glory

sorry about the title.. spur of the moment:
I like many others have been somewhat disappointed with the never ending slide of the sp.Had my own theories and suspicions but with everyone of my mining juniors and explorers back to March 2009 prices there had to be a common link.
"col75" from the TOE forum has posted an email from Toro Energy which in my opinion is that common link.
This extract sums it up,

"Dear Col75

Thanks for your email, and for your ongoing support of Toro Energy. I can understand your concern regarding the recent movements in the Toro share price. It is our view that this is largely a reflection of macro issues and in particular the perceived impact of the Resources Super Profit Tax on our ability to move the Wiluna Uranium Project into production.

Toro, like all other Australian resource companies, is tracking the discussion and debate of the RSPT. This is still very much ongoing, and Toro cannot pre-empt the outcome of this (which may be 18 months away) by release of early and possibly ultimately inaccurate information on any possible project impacts. The detailed provisions of the RSPT, and its impact on exploration and investment are still being determined. However, as a company with significant overseas investors, the withdrawal of funds from the Australian market (which has been substantial) has impacted Toro?s share price. This is possibly being exacerbated by capital loss selling by shareholders prior to the end of the financial year."




Now I do appreciate that MEY's operation is in Africa and would not be subject to the RSPT but sentiment and herd mentality have taken over above fundamentals.
Would be interesting to see what our overseas members think.
I will stick this out as painful as it is and top up.