We could be hero's, page-6

Extract from my post 1/12/16
"If the current Swedish program reveals nothing material apart from the face saving "we have gained an understanding of the complex geology of the region" nonsense - sub 20c is a distinct possibility.
Based on their Sept Quarterly, they will be down to $21.6m at Dec 31. Assume the same activity through to March as indicated by field activity forecasts ($2.5m exploration & $0.9 admin and wages) + $2.7m admin / wage costs for the last 3 qtrs of calendar year 2017 and we are down to $15.5m cash adjusted

200K ounces at Baloo, Nanook @ conservative $100 = $20m + cash $15.5m equates to 14c value + / - value for reputations!!!!!!!! "

Whilst I didnt think the major shareholders would let it get to 14c, they did !!!!

Since then "Hollywood" and the overpaid (IMO) "Dreamtime" have apparently done away with the real work of considering mining the Baloo near surface deposit to provide cash flow (having done the metallurgical studies), notwithstanding the strategic positioning + unexplored ground in the heart of WA goldfields + along trend from major gold mines + Polar Bear - Baloo - Nanook trend only just scratched (their words/ not mine), now suggesting that the project that they floated this on + raised additional exploration capital may be sold ????.

Doubtful $100 an ounce would be paid under these circumstances- are we now looking at 348K at $50 = $17.4m or lower ????

Adjusted $30m cash to throw at Scandinavian properties that initial proof of concept has not been supported?? (+ Business Class is circa $8,500 last time I went, little more expensive than jumping into a 4x4).

IMO, technical & institutional/ retail investor credibility gone, very high risk and potential lower levels before Windward (esk) the embarrassment gets reabsorbed into the group

And of course we remain 1 x 100 metre hit from glory and apologies