Brent Cook says that he looks for the fatal flaw - I believe HAV is a good example (ironically they use Cook's graph in their presentation) http://www.havilah-resources.com.au This company says they are meaning to bring their Portia deposit to production through an open pit mine They say they have a JORC resource of 720,000t @ 3.1g/t Au for 72,000 ounces They DONT have a reserve because their resource is only INFERRED - you cant apply economic modelling to an inferred resource (minimum needed is an INDICATED resource) Hence they cannot legitimately call their resource 'ORE' - ore is a concentration of material taht can be mined now at a profit (HAV cant proove this) THEREFORE - they will have problems financing this, they might jerk some sophisticated investors to supliment finding and mine the shareholders/market They use a Au price of A$1750per ounce and their details of expenditure is completely void of a COST PER OUNCE because THEY COULD NOT HAVE DONE A feasability study of an inferred resource. YET they tick off the pre-feas and the feasability study on their project status - no bankable feasability study! This company is a joke - lots going on here that stinks I have been looking through their material for answers to my questions - and they play the language game - talking up their project, but having nothing AND THEY KNOW IT - becaus ethey have 'qualified persons' as defined in the JORC code ON THEIR BOARD! Im NOT saying you cant make money on this company I AM saying there is no reason i can see to trust this resource will ever become a reserve, and if they are doing this with one project - what will they do with the others? These directors also have another spin off company with geothermal properties - stay away from them as well IMO.
Interesting point - Mickey Fulp taught me to look carefully at the website of a company because it may show if the company pay attention to details and plan on being around for a long time.
If you think the whole market has discovered this deception but is waiting for a particular day to all get out at one time - yes If not then - don't ask me I don't know
What a joke! Havilah have made a bid for Curnamona Energy Limited look at the directors of both of those companies - they are buying what they started in the first place. I have absolutely no idea why this stock has gone up - maybe I'm not seeing something Or maybe im not missing anything and its the latest effect of the unfolding scandal I dont know if shareholders have been informed or not i just noticed the rise and the anouncments This (these two) companies are a failure - im noting the directors and adding them to my 'do not touch if these are involved' list
