It is difficult to see how ARC will be able to do any meaningfull exploration given their cash position and the difficulties they will face trying to raise capital in the current market. Also, do we really need any more shares being issued at these absolutely give-away prices?
Any parties coming in as JV partners would also be doing so on very unfavourable terms for ARC.
This has led me to think about our recently appointed non-executive director, Mr Max Ramajaya. Max's company acquired 13% of ARC for $692k in early September last year. Surely he didn't do this because he is just a jolly good fellow. He must have a "cunning plan" and, I for one, think it is about time we heard what that plan is.
Lets hope that somebody at ARC has a plan.
MG
ARX Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
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