wristshot is a top notch guy
he sent me the following PM. I don't think he's a basher, i think that he just seeks the truth, just as much as the rest of us
what he sent was intended to be private, so that he doesn't come off like a basher, but i think that the material is good enough to share..
Sent By: wristshot To: bradford86 Date: Thursday, July 15, 2010 12:44:10 PM
I talked to IR today, couple of things were mentioned:
1. The margins are very small for their business and room for error is very small so it is important to secure a resource for business like this.
2. My major question was if they planned on investing anymore money into this project and Richard's response was that at this time there is no plans to do this. When pressed on if there was a possiblity, he said that he never says never and that it could be a possiblity.
3. Richared did mention that the investment community has some what looked down upon what they think is a speculative play but he said that if the reserves are proven the off-take could begin within a couple of years or if a buyout offer does come to fruition they may consider selling the stake depending on the offer.
I have to be honest, I don't like a company like this making a junior mining play, it has really made me think twice about an investment. The question is are they going to keep taking these types of risks to grow the business and is there really a need for it. I thought I'd mention it to you, I don't want to be too much more negative on the board. I'm not interested in bashing stocks as I'm not the shorting type.
