i'm with you rice. on close inspection its typical pump and dump...

i'm with you rice. on close inspection its typical pump and dump style, tried to get in and cash in on the gold boom that is yet to happen and has claimed the scalp of a few trying to do the same.

Everyone is weary of the gold industry at present in particular spec stocks and non-producers. The price of gold is yet to shine and although i personally am a believer in that i think the few solid gold plays out there will see a boost in the short term and gold will hit $1000 again before the year is out, companies such as this with no plant, no cash and no reserves are being rated as such by investors.

if you look at the board, sellers in reality outweigh buyers. theres 5mil of buy orders but their below 1c.. pretty optomistic given recent sale around 10c. Theres not one buyer in the "trading zone" either.

looks like all their cash has been allocated also, although they have 3 mil at bank by the "use of funds" ann it will all get gobbled up pretty quickly which only means one thing.. more dilution (capital raising).

they spruiked early of having a "Major" gold player wanting to get on board broads dam.. then signed with ABM Resources??? if ABM resources is a gold major i'm Warren Buffett.

i also see they've lost 2/3rds of their initial director team.. and they only listed 6 months ago?

so sure they have a massive tenement but i can't see any proven resource or gold reserves either?? someone correct me if i'm wrong on this?

the only good thing i can see from the top 20 is its tightly held in that almost 70% is with top 20. If they prove up a resource and prove they can build a plant and get it out of the ground profitably then it could run easily but this is definately a BIG punt imo

imo very very speculative but as they say higher the risk higher the reward but good luck.

definately DYOR on this one
Davo