where is this ship sailing..

04/04/08 BTV completed a Placement and Non Renounceable Rights Issue where "The funds from the placement will be committed to the potential acquisition of a number of
new projects which are in advanced stages of due diligence." With $ in the bank why placemore shares, when there is not definitive direction and no iminent need for the funds??

What are these projects and why is the latest quarterly stating "To date, no proposal has met the requirements of the Board"

While $ for $ the Co. is undervalued where is this ship sailing. $15m doesn't go far and they have offloaded what they considered a valuable asset to the Co.

"The increasing gold price is attracting increasing outside interest in the Deflector asset and the Gullewa tenements as a whole, confirming the Directors view of the value of this asset to the Company."

So why did they sell, they claim to be a mining Co. they had a mine, infrastructure to support 300,000 tpa and a resource inventory of 950,000 gold equivalent ounces. Surely in 3yrs of rom processing they would yeild more than $15m.

Who is the Hong Kong based Co. they are paying $ to ??

Many questions on answers, face value is intersting but a Co. that is divesting its assets, raising capital for the sake of it, and has no defined progressive path is a wild cat in its self. While this one is tempting for a quick play I'll leave the shares on the table for you guys.