Gee let's not go from one extreme to another. Just as newspapers and the company over-reported the results, you croupier are now under-reporting the company. The Myall Creek prospect is also owned by MNR, as they have farm-in rights. EBR also has a number of other promising interests, so its not all bleak. In fact I think a price of around 8-9c is currently sustainable on current factors. The share-price well and truly overshot the mark for reasons we all know. It is true that EBR have drilled very few holes, but it is encouraging from those few holes that they have struck decent gold deposits. Of course these need to be proved up, and the company should have said in their announcement that current estimates do not make a viable project.
Obviously there's a huge red mark on the company at the moment as a result of the announcements and articles, but at the very least its created some exposure that marketing money cannot buy, and EBR will now be on the radar of a few, at least for the short-term.
Personally I would not invest fundamentally on this stock, but don't say the company is in dire straights, when they are not.
Cheers
EBR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
