Post by
helpline88 on May 27, 2022 6:55pm
The Numbers
Current assets $189,000. Current liabilities $2,174,000. We are probably looking at more huge dilution unless management does something which is very unlikely. They have done nothing for over a decade.
I could be wrong but I think the problem is they don't have all of the environmental work completed. The can't move forward with building a plant until the environmental work is done. Management isn't spending any money on this, just interest in their debentures. I am thinking they are trying find a partner who will take on the environmental problems. The question is can the environmental probems be dealt with. Can this eventually move forward? If it can why has it taken so long?
Correct me if I am wrong.
Comment by
Swl1896 on May 27, 2022 8:17pm
I think you are probably correct. Great asset, a long way from becoming a mine, not worth diluting this any more. Either it's worthwhile to a bigger company in the iron ore sector and they can't agree on a price or it is not viable and it will linger until they roll the listing into a new idea.