Thanks Cav. I do hate to seem to be a downramper (especially...

Thanks Cav.

I do hate to seem to be a downramper (especially since that was my first post on HC after reading for 12 months). To be honest, the feeling I get here is the same one I had about Firepower a few years ago (which I fortunately didn't buy into whilst everyone was raving about it on the radio).

From my limited (and non-expert) analysis, I can see lots of money draining out through fees, admin and consultancy and yet nothing of value occuring. ~$600k last year (if I recall correctly) and no profit on existing products.....I could understand if they were simply holding onto the ground until it's value is realised by BHP.....but the lack of progress on anything else tells me that someone has been living the high life whilst the shareholders have been waiting with our eyes closed and our fingers crossed.

The amount of money paid out in fees to 'manage tenements' are ludicrous compared to some of the more reputable small-caps I've been putting my money in.

As you mention, the chances of raising any more money at this stage and price are very limited unless they engaged a third party to take a stake, further diluting the already bloated share allocation.

Unfortunately previous posters' comments about managements' lack of response to shareholder queries means that I wouldn't even bother to ask such questions. I do however have to say that even though my investment may be considered small, I will get to the bottom of this if things go sour.