As investors start to question whether i’m a sadistic fool who’s paid to deramp or bash there darling investments ” agenda driven ” and only with one common outcome ” to shaft genuine investors ” I’ll make this statement once again:
I have NO position long or short in Stellar Resources, nor do I intend on initiating a position, my friends don’t hold positions (That I’m aware of) and finally I’m not being remunerated. I do not want to save you nor do I want to harm you, I simply believe that the company has a lot to answer too, I also believe that this is a good case study for genuine P.I’s who want to learn how,what and why things react as they do in this game. I do believe the SP will go up at some point as the company will come out swinging when they need to raise cash or sell their next big steps….
For now lets look at some of what they (GMOW) claimed they would do:
” We currently estimate that planning will be submitted to acquire and extraction license in the 3rd Quarter of 2011 ”
Diamond drilling, project feasibility and ultimately mining. Drilling is estimated to start 1st quarter of 2012 – We know they have been grab sampling but how ineffective is that?
In our next short piece we will look at the industry standard,reports and also the advisories of which are surely a consideration.
Mike Povey is the GM for GMOW and was with Range resources however he did not complete the deal with Conboy, this was completed with Peter Landau, needless to say I think DC & PL have enough skeletons in there closet not to focus on it to deeply. For the record Mike Left in 2008 (Oct) in good shape compared to pistol Pete’s legacy. I believe the company had to release a few regulatory announcements correcting media reports (Re: RRL RNS) whilst this bare’s no material difference to STG it does beg the question of ” past bumpy rides ” the above are extracts of facts released by the companies in question.
An old analogy goes there is no smoke without fire or let the testament of time do the talking.
3 years, no extraction, little reaction resulting in SP loss & Board abandonment.
Ever wondered where the great GMOW operate from??? Look above folks….