Yes I had noticed the drilling plan with all the black dots, which is exactly the point of my post. How does a company drill close to 200 bores at Malmalute, 31 at Husky East at 22 at Husky West without sufficient funds to pay for the drilling?
People above are, although admitting that the company needs cash, suggesting that they may start drilling to try and get some "early results to try and pump the SP followed by a CR". Doesn't sound like a safe plan for either shareholders or the directors of the company, as it means cash will run out before results are known.
I am sure it costs more than $150k or so to drill the holes proposed. For example, in Q2 and early Q3 2017 Platina Resources drilled "more than 100" holes at its nearby Owendale project, and for that Q2 quarter spent $673k on exploration and evaluation alone, plus a further $639k in Q3 for just exploration and evaluation. Much much more was spent on just running the company and administration etc.
Now, I am all for buying a stock at a good price and sitting back for it to rise, but not on the basis that it is due to a re-rate based on management having done nothing in 9 months except summarise old historical data through a "desk top review" and call it a "fast tracked" development program, spend considerable money on a Bolivian tin project then just scrap it after having sent the cash overseas, compromise on "head scratching" terms its only potential cash flow generating asset being its US$500,000 plus interest loan to Milestone, and then announce a further fast tracked drilling program in circumstances where the company has insufficient cash to pay the drillers to do a proper drilling program.
If this final point about how it will pay for a proper drilling program whilst allowing the company to continue as a going concern can be answered, then this could potentially be a short term buy. But until that happens, all the repeated posts on here about a "re-rate due" or "reversal" imminent - which have been repeated since around Q1 of this year, or a share price almost 100% higher than what it is today - appear to be no more than blatant ramping by people who are currently down at least 50% on their trade (note, this is estimated based on the share price at around the time that many of those "re-rate" posts started in early 2018) and want to draw in other suckers to try and start a rally.
As for looking at the past 8 years of announcements, that is an interesting investment strategy. That would show you that these current tenements are all new projects that the company has only commenced looking into in 2017 after trying (without success) in 2016 to get out of the business of mining and get into sports technology through Milestone attempting a backdoor listing (with Milestone being the only winner in that transaction, in being given US$500,000 by VIC). So all that the pre-2017 announcements are useful for is to show that the company has tried mining previously and to provide an understanding of how management has operated in the past.
Those 8 years of announcements and the company's chart will show that the share price has gone from over $100 to $0.008 (taking into account the many share issuances and consolidations), or over a 99.99% drop. Hardly a sound investment strategy to buy now and rely on management to somehow be different this time and make a long term return for shareholders.
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