I have followed junior mining stocks for over 20 years. The market gets it right more times that wrong.
BOK was called the best silver / gold play - did the numbers myself and got out because it was dead man walking !
CVG was the best near term gold producer that just vanished one day !
UML is exact position !! 12 months from now !!
** owns 3 assets with high holding costs and none of them producing gold anymore and won't for at least 15 months so the $20M cash (if it is that much) will vanish - remember junior companies report cash but don't have to report trade creditors owed that get paid 5 minutes after the quarterly is released. WHY DID THE BOARD NOT BUY ANOTHER CASH PRODUCING ASSET 12 MONTHS AGO WHEN THEY HAD $30M+ to avoid this !
** They already sold 50% of Henty to pybar via JV and that asset looks like it needs another $15M+ spent on exploration to find production and not more "good hits".
** chasing cyanide at Dargues cost them 15 months time wasted, made lots of enemies and sprayed lots of cash up against the wall!. - DUMB
If the Board has done the ring around and anyone has been able to look under the bonnet ! why has nobody offered any higher - BECAUSE THEY NEED MILLIONS OF DOLLARS to be raised in the next 12 months to explore Henty and Develop Dargues - Debt lenders to junior co's are vultures and screw shareholders just ask BOK!
** If you have the choice of getting paid cash / getting screwed by debt funds / or getting diluted "blown up" by companies doing placements at discounts and leaving retail shareholders behind ! I know what I will take
Name a junior Co that has a world class Board and I will invest tomorrow 95% of Directors are pure cr@p
take the money and run - I am long in UML at prices that I will never see again under any scenario over the next few years so happy to save the brokerage ! Poorly managed Company over that past 2 years that has itself to blame
- Forums
- ASX - By Stock
- Take the money and run !
I have followed junior mining stocks for over 20 years. The...
-
- There are more pages in this discussion • 7 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add UML (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online