so much bullcrp being served up

Have been flicking through all the prospectuses lodged with ASIC recently. God, there is some c**p out there.

We are certainly in a very bouyant market when you see companies with just one project list. One of these such companies with only one project (Convergent Minerals - Steam Engine project) had one tenement only, covering just 35km2!!! Unbelievable. I guess the only reason these companies got up is because they mentioned uranium and said they would look at acquiring new projects (read uranium projects).

I notice today another company lodged a prospectus (Kangaroo Metals). Their board consists of a MD with a background in the biosciences (no mining experience apparent), a tax lawyer as chairman (no mining experience apparent), a real estate investor and only one person with a mining background (albeit he does appear quite experienced) who is a non-executive director. Their tenements consist of old mines. Just one of a number of companies that play the old 'we think previous explorers didn't test the tenements sufficiently' card.

It will be interesting to see what happens to these companies in a few years time. Particularly those one project companies relying on uranium. If those projects turn cold, there really isn't much left to pick up to keep these companies going except for high risk international projects.

Whats everyones opinions on this?

That said, I acknowledge that there are still some very good floats coming out or still to come.