Uprampers will post here all day about record gold price and...

Uprampers will post here all day about record gold price and this and that. Here are some points always conveniently overlooked

1. The SA operation is more than 33% Black owned. Those owners do not have to lift a finger to get their share.

2. The mine was closed down previously for being unprofitable

3. The SA ‘operation’ has 1 solitary staff member with mining expertise. Yes that’s right 1

4. 1 single Board Member has ever worked in an operating mine

5. The stock is massively diluted with a further 400 million shares promised as part of a small part of the funding package. Full funding is likely to see it become one of the most heavily diluted small caps in ASX history

6. They raised money to go mining and were so inexperienced and unsuccessful that they couldn’t dig a single shovel full, instead having to waste the money on unnecessary cosmetics to keep the contractors busy

7. The local community is against the project

8. There is still an environmental appeal sitting with DMRE against the granting of the MR. An appeal raised on behalf of the local community

9. There are no terms released for the potential IDC funding. What they do know is the most generous terms I’ve ever seen given to their number 1 investor for $US 10m. Despite those terms, that money is not allowed to be the first finance sec, effectively the biggest show of no confidence you could have

As always, DYOR