For those interested in this stock, I've just had a chat with management. It seems that commencement of drilling on Boudi Rat was delayed and has only been running for the last week or so rather than from the beginning of the month as originally announced. We can't expect results until January.
I raised the issue of the heavily discounted placement only to have my fears confirmed. "This person (to whom we issued the shares) will bring great benefit to the company". Of course we've all heard this kind of thing before as directors bring their mates in on a good deal and there's littel that we can do about but hope that the next raisng will happen at much better terms. It's all part of the rich tapestry that is the Market...
I did detect some real enthusiasm for the potential of this project. Market cap is still very low at around $5 million so any good results should be refelected in significant share price movement.
WAC Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
