RE: Insightful I'll agree with you on that, Oldmariner.
I've been around since before the time period that PPP referred to. And after buying Abcourt at 18 cents I sold it in the $1.20 range (after it came down from $1.40) and made a huge profit. PPP summed up Abcourt's strategy perfectly. The silver/zinc project will take too much money to restart, so Elder will restart first and then provide the funding for the Abcourt-Barvue silver/zinc mine.
Now all we need is $10 million from somewhere to get Elder going. If gold prices shoot up in the near term, it may turn out that the risk that Mr. Hinse has been taking to prepare the Elder mine for production will have been good timing in hindsight. Let's hope so.
I'm not thrilled by the dilution that has taken place over the past couple years, especially at low levels. But he made that decision and though it would have been better for them to raise more cash when the share price was briefly much higher that was not done. This company is not strong on raising funds and the language barrier may be part of that.
The raised funds were used for more drilling on both major projects, to prepare Elder towards production, and yes, also for administrative expenses.
Tomkins, I would be curious to see if false promises were made because I don't remember any statement from about 5 years ago that Elder will immediately be de-watered. What I have noticed is that Abcourt is careful in it's forward-looking statements, even though they have often been late on projected timelines. At least we get a news release from Abcourt roughly once a month. I have been invested in many companies that don't even give any news at all for many months on end.
In my opinion though diluted, Abcourt is the same value or even a better company than it was several years ago because of the increase in resources found at both major projects and the advancement of Elder offsets the increase in the float.
Good luck to all longs.