AJ
There are (only?) 1.2bil shares not 2.1bil, so the position isn't as bad as you suggest - typo? However it's a fair bit of paper, which has resulted from them spending too much, even in the protracted downturn. I gasp at the amount spent on Admin each quarter; it's too much for a resources explorer in the current market.
I think their admin spending and capital management are THE reasons why the share price has under-performed so badly, despite the good assets, and why we're all losing money on this enigmatic stock.
I'd love to see them bag a big $ sale of the zinc acreage and significantly cut their admin. costs to a level appropriate to the poor commodity prices. Here's a chance for management to prove the sceptics wrong, and show us how switched on they are.
(20min delay)
