I try not to post to much anymore as you often get caught up in silly arguments. Such is the case with this forum lately. To help clarify, note the following..
Firstly, the company has approx. 600,000 of RESOURCES ( not reserves as reserves indicates that the resources are economic ). This amount IS NOT in question. What is in question is - how much larger the resource is in A/B/O? Is the A/B/O resource economic? What other economic tragets exist on the property? Only time and money can answer these questions.
Secondly, it is FUTILE to try and make sense out of the selling prices of junior stocks. The reason FLA is .40 is the same reason that CRN was $6.00 today based on one good drill hole. Everything in this market is exagerated to the nth degree. Stocks are usually massively over valued or undervalued. That is why people such as ourselves think we can make a great return in this market - we try and find undervalued stocks, buy them , and them sell them when they turn HOT and get overvalued. The same "herd" that cause a runup also cuase the steep drops. Sometimes the prices are manipulated ( some of you may say all the time ), and sometimes other factors come in, such as Bre-X, that cause complete market breakdowns.
As to why FLA is this low, who cares? If YOU think it is worth $3.00 and will get to the price in a reasonable time frame you should buy it. If YOU think it is a dog, drop it and on to the next stock. Every stock will have detractors and followers... |
