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post Posted: May 23 2014, 11:51 AM
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Posts: 418
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In Reply To: mullokintyre's post @ Mar 20 2014, 04:26 PM

Hi Mick, I think you could be right.

About 12 months ago I posted on a company called MTB. Somebody had put up a question. The point of the story is they had a decent resource but absolutely no cash, and I felt really sorry for anyone still holding.

Sad thing is ARU is heading in the same direction. A decent resource, years and millions invested in research on how to develop it, but not enough cash and apparently very little interest from anyone not actually on the payroll.

In a couple of years the kitty at ARU might have run dry, the buy side might have dried up and sellers might be queueing to offload at $0.001. Sadly, I am still holding - another example of my falling victim of the RE hype 3 years ago.

I think I said on GGG that until LYC either goes broke or turns a profit undeceloped RE resources with be something of a financial quagmire. I just wish I wasn't such a blithering idiot, climbing on a bandwagon, just as sensible people were getting off it!

Said 'Thanks' for this post: Dave Wane  

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