AUL 0.00% 28.5¢ austar gold limited

prospects, action, and our struggling sp

  1. 12,635 Posts.
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    Re. ANN Granite Castle Gold Project Update thread, responding to Kranky...

    "Now - if the market has only valued MNM on 600m of Gold, what will happen if any (or all of the following) transpire:

    1) Mt Mulligan comes off.
    2) Exergen JV signed.
    3) More gold/silver JORC'ed at Granite Castle.
    4) BM JORC formally defined.

    Unsinkable says:

    ...And what if nothing from the above occur?"

    I am very disappointed that the JV hasn't been signed off yet, i know from experience that if milestones aren't met then there may be something wrong... We haven't really heard much about it apart from 'draft being done' and 'awaiting formal signing off'... How long can this take?? It wouldn't take long if there was no problems, but obviously there is something holding it back... lets hope it isn't terminal since no JV would really hurt MNM's prospects since pretty much the only thing that has been moving the sp has been the BM project...

    We do not know how long it will take to have an outcome in the mt mulligan project, since this has been going on for years now... Seems as though we are close to an outcome but the people that will know the best are the people closest... I invested in MNM from the start because of mt mulligan and it's prospects, it would be great pleasure seeing this in MNMs favour but it could drag on a little longer with no certainty to be granted MNM's way...

    IMO we shouldn't even be worrying about granite castle at the moment... I was very disappointed to see that this project (it seems) has been given priority over BM... Since when did this happen? I mean, over the last year we didn't hear anything from granite castle, it was all BM and the JV.... Why focus on granite castle now when the JV is close to being signed off and JORC drilling is underway at BM? Are they focusing on granite castle because they know there is problems with BM?

    How much will the bad press about BM and the protests set this project back? IMO it shouldn't make much difference but we are yet to know for sure...

    The CR will happen it seems, but how long will this last for before they need another injection of funds? If the world turns bad again and the markets tank, and if there has been little to no progress on our projects, where does this leave us?

    I am not down ramping, just letting off some steam since I have been expecting more by now, and let's be honest, every shareholder must be disappointed with progress... My questions will be answered over time, let's hope we all don't have to wait too much longer for some progress because I have been waiting about 4 years so far with the share price much lower than my average...

    Good prospects are one thing, but if there is no action then the share price will do nothing...
 
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