I just bought into these guys as a Smokey, a nice little gamble at there price but I emphasise. A gamble....
46 mil shares 1.5m cash 3.5km square of land holdings (two JVs) Looking for IOCG deposits Use to be an IT company - changed to mineral exploration (how do those skills correlate?) Of the directors 1 is a geologist Dr. Moriarty (cool name) who owns 2.5mil (indirect) 400k direct shares in the company (he's a believer unless they were given to him in order for him to take the job (service fees -paid in shares $1m on balance sheet) Only director who owns shares.
Wow - just how many times can the same company be reborn ?????? 31/10/2012 to present - KINGSTON RESOURCES LIMITED 05/12/2011 to 31/10/2012 - NUWORLD SOLUTIONS LIMITED 01/09/2009 to 05/12/2011 - DATAMOTION ASIA PACIFIC LIMITED 02/10/2002 to 01/09/2009 - SYNERGY EQUITIES GROUP LIMITED 28/08/2000 to 02/10/2002 - IPT SYSTEMS LIMITED 08/12/1993 to 28/08/2000 - NEXUS MINERALS NL to 08/12/1993 - DRY CREEK MINING NL
- based on what ? Today's volume was 197,000 and 175,000 of that was the biggest shareholder selling down - announced after close today
Based on shares go up and shares go down but in the long run there in a reasonable position to go up.
Maybe management salaries should be linked to market cap with a max limit, before bonuses take over and supplement the difference.
