I've been looking for a reason to throw some more good money after bad with this, but I've failed. I'll hopefully get a chance to sell out if this new group gives it a pump. I might change my mind, but as doyle has said, my take up or not is completely insignificant to anyone but me.
However, this is the intended use of funds for the price of nearly 100% dilution.
Note that they are spending a whopping $150k on this new project. Whats going to be left after all of the management, corporate, and admin costs? I just don't trust these Chinese MOU's to amount to anything. They still have the original Aolong JV for god's sake. They have been talking to farmers for aeons.
You never know, maybe they will market this new project and gain some interest, and be able to raise enough capital to actually drill anything, maybe then it will be worth a gamble. They will be back to pre-consolidation shares on issue before we know it. I think that was predicted by one of the trolls a while back.
Sorry to be a downer to all of the regulars but if you can spin this thing in a positive light I would love to hear.
TNP Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
