things i like about company, page-2

Things I dont like about the company -

(1) We should have known from the limited due dilligence that the management would have trouble sorting this project out. An initial 5000m (I think) of drilling was planned and only 5-6 holes were drilled. As a result, they then went to the market and asked for $28Mill based on THREE COAL HITS. Given the MC and the amount required, it was basically an IPO. Ask yourself what company would be able to raise $28Mill from THREE HOLES! If they would have organised a proper due dilligence then things may have been different. How can we believe the company about drilling immediately when they had trouble organising the due dilligence drilling. This is a big concern of mine.

(2) All the potential in this project is now going to be consumed in recovering money. There is no possibility for existing holders to 'add value' to their initial investment as we will be too busy recovering big loses.

(3) We have an ordinary management which the market has lost faith in. There are too many options to invest in so people will just move onto better and bigger things. It will take a long time to regain confidence and Im afraid that good drilling results will just go unnoticed as many have black listed the management.