questions for the extremists

There are a lot of idiots posting on this stock, both positive and negative.

Negative idiots, who know nothing about this stock but pretend they do. Making stupid comments such as "this stock has no cash" when it has just raised $20m. Idiots wanting all the details of every transaction when other companies don't even provide these details. Have any of these idiots ever heard of "commercial sensitivity"? Why do you think some stupid steel maker would buy the ore if it was just rock? Do you not think they would carry out tests?

Then we have the hyperactive super idiots proclaiming that this will go to the moon. Get real. The market will not give much value to the Rincon Project till some more evidence comes out that they can make money from it. The Chile iron ore deal was good. How good remains to be seen in terms of quantity sold and resource size. We have some preliminary estimates of these to work with as well as some estimates of grade. We can guess at the value and we can act according to our own belief. Also, there is substantial dilution on the way.

What we have witnessed is an amazing transition from what WAS effectively an insolvent company. Credit has to be given to management for that and for the amount of money they have made for shareholders. By claiming that the people running this company are crooks without any evidence is way out of order. Just because you haven't heard of them does that mean they are crooks? Have you heard of everybody in an industry? Is it not possible to learn about an industry and actually take advantage of all the old guard who are stuck in their ways?

I've invested in loads of companies with so called respectable and competent management only to lose money.

In my opinion, this company has made only two mistakes since the new management took over. Firstly, their valuation of Rincon is open to huge criticism in terms of methodology. Second, the failure to lodge reports on time (now the second time). I will, however, point out that management have been working tirelessly to give this company some SUBSTANCE. I even got an email reply from the CEO when he was on annual leave. They are committed. They may not know everything there is to know but then neither do I about the profession I am in.

Congrats to those who have and seek a balanced view.