Hockeypond,
I’m still out, but I stop in to read now and then. I was thinking I might get in again around.03 but only using the “bigger sucker” approach to trading. That is to say the company may not be worth anything but someone will buy it from me for more than I paid anyway. Come to think of it, .03 might not be good either.
The problem with NSDM isn’t that there are no diamonds to find there but rather that they are going at it without financing. It’s painful to compare it to a real exploration company like Diamondex that has $2 million budgeted for the Lena West project and millions more for 13 other Canadian projects. All this and less than 150 million shares issued. (They also file reports.) Or consider Tahera, or Diagem, each of which actually produces diamonds. Though neither has hit the mother lode, both have money in the pipe to further explore.
The pumpers here are always talking long term investment. The money’s already gone. Maybe it’s a long term process…but it’s a short term investment. WS issued 620 million shares (mostly to himself) and spent half a million dollars in the first year of this op without the shareholders getting a thing for it. Now he’s further diluting the shares to get another season. Who’s going to give him more money after that? Even assuming he’s not just living large on the investors’ dime and hoping to strike it rich, he’s still dreadfully overmatched in a very competitive game.
It’s one thing to root for a guy with one donkey and a pick and shovel. It’s another thing to bet your money on him. I don’t know.Maybe it will get down to a penny…
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