Agreed sub. Sounds like the same story all over again from the same guys (even Mencel isn't new, being appointed COO in April 2012). They are once again seeking external finance with an implausible time frame to develop the port etc. The new plan is lower cost but ore prices are lower and funding is much harder to come by. The difference this time though is the stock price way down and in fact only reflects cash and some reasonably liquid assets. There also seems to be a bit of a bid for the stock, placing a floor at least. The skeptical may wonder if this signals a cap raise but its still a bid. For those reasons I'm going to run a small position and keep a buy sentiment I think.
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- robert mencel onstage sydney wednesday 15 may
Agreed sub. Sounds like the same story all over again from the...
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Open | High | Low | Value | Volume |
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3 | 1507550 | 0.002 |
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