Will be very interesting to see how Pirate Pete tries to cover up the empty treasure chest - was it the map, the faulty ship, the helium, the 1.2km of granite they tried to drill though, or was it just the wrong telephone number?
Pirate Pete appears to be a one trick pony - present a map with a possible treasure chest, get funding from a company on the ASX/TSX/??? and then burn it travelling to the moon and find 20 barrels of oil and frac Texas - lets not forget the 1 million+ travel expenses last financial year - yes, that is ~22K per week excluding holidays.
Look at Red Emperor's announcement there is < 3 million cash now with Bandy's wage and other BOD's around 1MB - where did the other $8 million go? A Red Emperor capital raising is now due unless Range pays for everything in which case a Range Resource capital raising is due - see how all roads lead to www.delisted.com.au.
At least Pirate Pete and Bandy can hang their hats on the most expensive duster and the biggest frequent flyer points of 2011-12 - ~$15MB.
Off shore Puntland might be a little smoke but look at the share price - investors have cottoned on...
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