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!