I follow the sector pretty closely across base metals, coal, iron ore, precious metals, rare earths etc but I cannot think of one play that has been as disappointing and as lack lustre as Terrain over many years now....
imo, the lack of strategic direction is ample justification for the entire board to be chopped...
In the last 2 years we have had two CEOS and two Chairman.
Yet nothing has changed when the managerial changes were made.....
They raise money constantly and seemingly drill very little. Lots of studies though - yay!
Studies always get investors'attention - NOT!
The latest great play was to pour millions (?) into a deposit that might yield 6,000 oz (and even then presumably a lot of the proceeds would have been spoken for in paying costs).
Then there's Wonder North and the other Bundarra assets - - if they are so good drill them, expand resources - get enough viable ounces in ground to move to production?
If this is not feasible - find new projects - it ain't rocket science...
The sale of the Coogee deposit - been on and off again more times than Paris Hilton's nightie!
Aztec Dome - potential surely but a JV partner with deep pockets should have beern brought in years ago....
A small piece of a large pie is better than no pie at all?
So, what is the focus gold nickel or morning tea in sunny West Perth.
Enough is enough.
TMX Price at posting:
2.2¢ Sentiment: None Disclosure: Held
