I agree with your thoughts Boles, though they always seem to be...

I agree with your thoughts Boles, though they always seem to be able to raise just enough for the next quarter even if it requires management etc to take up their full entitlements in SPP's. The list of failures to raise major capital or JV's continues to grow, including Reignwood $50mill, Jingu, Anhui and Express Link $100mill in the last 4 years to name a few. The most recent deal for $3mill short term funding notes (NO INTEREST PAYABLE) in my opinion was a desperate deal given they mortgage the Processing Plant and various mining leases which were not identified. NO INTEREST ! only an additional 10% premium for the company to redeem the notes if done within 6 months or 20% premium if between 6 and 12 months so the financier stands to receive between $300k and $600k not to mention the 20million shares issued as part of the deal worth $300k based on the SP of 1.5c on the issue date. Excellent deal one would have to think, for the financier. Why would anyone try and take a stake for $20mill when $50 to $60 mill all or nothing takeover would give holders around 150% premium to the current share price.

Good luck to all holders.

DYOR My thoughts and ramblings only