coming out of hibernation?, page-4

ajodtu just to stop you going mad by responding to your own posts it was very nice to see the rise we got today. Also look at the LSE and it seems to be going further in early trade - so if this keep up we may see more tomorrow. Certainly the fundamentals seem not to be well appreciated. The twop recent analyst reports fairly point out that ALD has prospects at the current PoG. I saw on the Lihir web site that they spend $175m on exploration prior to production and they found $40m ozs and this is next door. Currently ALD have spent little on exploration. Lihir is also mainly refractory sulphide deposits - ALD haven't exploited these yet and are attempting to bootstrap their own sulphide operation (I not convinced they will be successful in doing this without a capital raising). Main problem I have with ALD is their propensity to go to their mates in the Insto's for money and us poor shareholders loose out. The SLR thread outlines my concern:

From SLR thread

"I can't count the number of times where management of other junior miners that I've held have resorted to slashing the share price by 30% or more to complete cap raisings. Often there has been the suspected mates deal to "sophisticated investors" at serious discounts and, just to rub salt into the wound, a juicy underwriters fee for the "difficult and risky" task of underwriting what are clearly good shares being given away at ridiculously low prices. And then, if that wasn't enough for the poor long term holders, just to see the same shares dumped back onto the open market putting an effective cap about 10% above the low raising price ..."