via Mineweb - The Lows

Brent Cook has a fugue about share price lows in resource investments, and fills in the picture for the 1990's, when diamonds were the prominent theme.

No company on earth can have operations for years without any accounts receivable, while not borrowing a penny, not raising a dime in capital, and prepaying all costs. This is the source of balance sheet irregularity, and the asset-liability mismatch. And the satellite photos show continued operations, unannounced drill programs, scarifications, and a second mill in operation(perhaps also a mine in operation and development) nowhere mentioned, even as they claim an extended shut down.

They operate as a privately owned shell company of no value.

http://www.mineweb.com/analysis/independent-viewpoint/what-was-it-like-dad/

-F6