Really this is the silliest argument you can possibly make. Leaving aside the unique nature of MUS (how many listed ruby companies are there), if you invest in speculatively companies some will fail - even ASX200 companies fail. As soon as you invest in a range of companies you will have some failures - the key to success is to not get every pick right, but to have more wins than losses.
None of this is really relevant to EGA. Do you have some insight to add?
Ann: Indicative Debt Funding Proposals Received For Rothsay, page-12
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