Hi SallyThe following scenario leaves me a tad peeved:An...

Hi Sally

The following scenario leaves me a tad peeved:

An Australian company uses local:

1 seed money to get established
2.IPO funds to list
3.ongoing CRs to locate an asset(s)
4 more funds to quantify assets(JORC)

and then when the project has been massively de-risked, seeks overseas investors who provide funds but at a significant discount. The number of shares placed overseas usually results in the Australian company being ultimately foreign owned eg RBK (now Kinross), AVM, EQN etc etc

I could accept such a strategy if the local investors were offered the opportunity to provide the required funds but failed to do so but instead we get the standard verbiage that Australian investors do not understand or support companies in Africa. Where did those companies go to get the funds for exploration in the first place - Australia!

MWE shareholders should be aware that trading shares on the TSX is more costly than the ASX, the Canadian Government takes a percentage in taxes, the Australian trading house and its overseas intermediary all take a healthy percentage and the ER can play havoc with buy/sell timings and strategies.

OK now my liver is feeling much better already:)

Cheers

Roger1