History lesson: Altius originally floated on ASSOB in 2007 as Remine Gold with first round at .02 cents ;second round at .04 cents....later Altius contracted it's share registry by a factor of 4 so that the minimum real price paid for shares was .08 cents Initially,the company was focussed on it's remine technology...a technology for extracting gold from tailings. During the process of sourcing potential mines to JV with, Altius came across Forsayth.This was during the GFC.At this time Altius's main Geo was a Professor M'Conchey, [ spelling? ]a world expert in mine rehabilitation.The Forsayth mine was identified as an extremely good prospecting potential by the professor and had a history of extremely high grade gold deposits....in fact it was decided at that stage to develop the project to create a cash flow for the remine technology. After recieving some impressive initial assay results from the mine the professor and his associates decided to celebrate at the local pub where unfortunately he suffered a nmassive heart attack and died....major setback for Altius! Since then Altius investors suffered further setbacks in the way of x4 share contraction and IPO delays....as a result there were a lot of frustrated investors who have become somewhat short on patience and in my humble opinion just wanted out....however the deposit at Forsayth is from all reports potentially awesome .The issue lies not with the quality of the resource but with the ability of the board to manage it well,and to date this has been questionable. However within this last year Dr. Jannie lee has now become a major shareholder and executive director. She has an excellent historical Bio and putting her as jockey on a resource like Forsayth is a potential slam dunk on this project.Several other large Asian investors have also come on board and I would be very surprised if they were foolish enough to have not done their homework before committing such large sums of money to the project.Collectively they have more than sufficent shareholder power to completely take the helm on this company....Check out the top 20 shareholders,particularly their names.....6 degrees of freedom / more like 1 I would think. Just for the record I am a shareholder in Altius and have followed the company's evolution closely from its inception on Assob back in 2007 when it first acquired the Forsayth tenements from the Anderson Brothers.The whole area is renowned for its historical gold deposits but to date no one has really scratched the surface. Suffice it to say that anyone who takes the time to study the relevant historical GEO reports in depth would be well advised to compare the formations at Forsayth with the geological stuctures found in the famous gold regions of the Klondike! As always , I am the first to suggest to do your own research before taking on anyone elses viewpoint.
Cheers BhaiSahib
AYM Price at posting:
5.5¢ Sentiment: LT Buy Disclosure: Held
