Yes, nice chart DeReamer, and a nice trading day. It felt good to get a little bit of cash back, after so many months and years of watching the investment decline in value. And the question at the forefront of my mind is whether to flog the lot while people are still excited, or hang in there for a punt.
To answer that there are two further questions nagging at the back of my mind.
If this whole thing can be up and running for $8m, why isn’t AGO doing it? I don’t buy this spinning off to focus on iron ore yarn. They could still appoint a new manager with incentives, as they have done. In the Q4 report they reported having $265m cash on hand. I know they had debt to service and investment plans, but seriously, $8m is just a drop in the ocean. And if the Manganese resource is all it’s cracked up to be, why would you let it go for less than $2m?
Where is Bryve Resources getting its money from? It’s all very well announcing to the world that a company with an impressive sounding name is galloping to the rescue with a princely $8m to lend, without saying anything at all about the company, or how it is funded. Investors in DML will attest that the euphoria following such announcements can easily turn to tears. It astonishes me that the ASX and ASIC allow such vacuous announcements to be made, and that investors swallow them with such gullible enthusiasm.
SRR Price at posting:
0.8¢ Sentiment: None Disclosure: Held
