For what it is worth. Many times with this type of situation the stock drifts down to pennies (.01 - .05) then the properties get rolled into another shell - or the stock rolled back, renamed or some combination. Guess what happens next? It starts all over, cheap stock, options etc, promote, raise more funds, distribute cheap stock etc. Once in a while these deals actually do something(become real mines). That is rare, and in todays market there are more properties available at very low prices than you would believe.
Place a value here? If you are going to do that, take a good look at other situations with much more potential(IMO) for less. Without a
move up in the gold price there is little chance of much happening with any of these situations. The problem right now, is not finding gold, but in producing at a profit, and only very low cost situations would be looked at by any major at this point.
Fact is - with these plays - the money is usually made in mining paper (from "investors"), and any gold, if there is any, usually stays in the ground. This is a market where there are many properties and few buyers.
You are averaging down? A mistake in my opinion, but it is not my money, and you never know. Good luck.
By the way - I live north of you on the Okanagan Lake - and I also am developing a very natural, lakefront group of cabins on Kalamalka Lake (The most beautiful of the major interior lakes - ever been up this way?)
Even if we do not agree on this stock - we agree on the
outdoors.
Eric |
