For anyone who's been holding these guys for 5 or more yrs will know this is their status quo......buy a great asset with massive sovereign risk. Sit on for 4 or 5 yrs all the while burning cash. Telling holders they are doing their best, eventually run out of cash, put hand out to market a few times...dilute everyone to keep paying wages to "keep trying". And then sell the asset and repeat.
Harsh view but so far I do not see any difference to Shambesai (their last "great asset"). You always have to look at teh track record of a management team............And before someone says "if not happy sell , stop being so negative"....well my holdings have been diluted to oblivion and if I had of kept chipping down, I'd be so far in the hole with MSR that I'd be living on the streets.
I admire the flag waver's positivity....but they'll quietly disappear over time. What does everyone think RSG will do with their MSR shares if Tanzania remains a basket case for the foreseeable future....or if MSR turns their focus and cash towards an asset/project they don't rate??
MSR Price at posting:
0.4¢ Sentiment: None Disclosure: Held
