media

Vultures begin circling stricken junior miners
PURE SPECULATION: Robin Bromby | September 15, 2008




OTHER companies are suffering the sell-off blues, but in most cases it usually seems that the sellers are just poor suckers who need to raise cash in a hurry and are forced to take whatever price is offered.

Good luck if you are trying to sell Truscott Mining Corp (TRM), there being just three buyers and only one with an offer that is not insulting. The stock fell 35 per cent on Thursday and it looks as if, given that Truscott had not traded since September 3, the seller or sellers had to come down and take an opportunistic offer. This is a company that has been doing some serious diamond drilling with assays due in late October. Moreover, a few months ago it acquired two exploration licences in the Northern Territory.