but a few points worry me in the short term before entering a position
1. further cap raising as they have no money for drilling in the latest 6b from ASX warning about the viabilty of the company ATN declared a CR is immenent
2. there last CR failed to raise the reqired amount of funds due to lack of interest so the Director had to make a short term loan . to cover on going costs I would imagine he would want to be repayed out the Next C.R funds
3. any CR will be a discount to the current price as there is little interest so far in the stock the SIs would want there 20% discount to market price
4. Yesterdays ANN
HIGH PRIORITY EM TARGETS CONFIRMED AT MT ANDREW
stated
It is Ashburton’s intent to move towards drilling of these targets at the earliest opportunity. In order to minimise the time by which drilling can commence, the Company has already initiated the process of securing necessary approvals to access the area, which includes the submittal of a conservation management plan through the Department of Environment and Conservation and satisfying the requirements of a heritage survey, in addition gaining approval for a Programme of Works through the Department of Mines and Petroleum.
This process is expected to take several months.
5. last placement was at .002 so the 120 million shares could try to exit at any rise above .002 in the SP .
on my watchlist but still looks High risk ATM
GL
ATN Price at posting:
0.3¢ Sentiment: None Disclosure: Not Held
