RE:RE:RE:RE:Smart is looking for a better investment Shylock wrote: Schmoby - I feel your pain and believe me it is shared with many others but having 'played' with these junior gold explorers for almost four decades I have learned to expect one like this to come along periodically regardless of how much research and due diligence I do and I did plenty with this one. Even so, I was fooled. But when something like this knocks you on your derriere you should not stay down, boy, you should get right up again and unemotionally take stock of the situation. You first have to decide whether it is potentially salvageable or whether it is not. I believe strongly that it is. The whole problem here was a crooked CEO who was clever enough to fool even the Board. There is no shame in that for shareholders. You have to face the fact that the world is not made up of uniformly nice and honest folks. There are the EOs of the world and they are not confined to the junior gold exploration universe. I believe EO's departure totally and entirely is a given now and I like the "New Direction" stance of the company. As I said earlier, they still have the same properties and much has not been explored. Exploring without dilution is just what we need. I do not know another junior gold that is this cheap yet has this degree of potential. And if you do, please tell us. For that reason I am not only hanging on to my share tranche, I am going to increase it into strength. Until then, my current shares are a 'hold' but the day this one starts back up is the day I will increase my stake.
Ummm...I think you got the wrong guy shylock. My pain was very minimal, I wasn't one of the AZX United group with millions of virtually worthless shares and never bought into the "AZX is worth way more crowd".
The day this one starts back up? Huh...starts back up again...you mean like a boiler room?
At this point the best thing they could do is reverse split 20-1, rename the company, replace every single person involved and start from scratch.
However, if you want to "increase your strength" on a shady company, cash poor, +500m shares outstanding and unreliable information then have at it. But just as a thought, if you are throwing a dart at the resource junior board why not find one with a 1/10 of the outstanding shares and at least have a chance at the big time? I get the feeling you might be one of the folks that are in denial, hoping for a miracle rather than cutting your losses and redeploying some place better.
2 years from now PRB is going to make their shareholders very wealthy, it's not too late to take a positon there, excellent cash in the bank, great properties with proven resources increasing, regular updates, real RE's and solid management or stay here for 10 more years and keep "redeploying" or waiting for it to hit the "bottom". The bottom btw is zero.