Re: AGORACOM "IMPORTANT"
posted on
Oct 31, 2008 07:26AM
Stalling has nothing to do with it. Wisdom and experience do. There is a reason why this company has been around for 75 years.
They have PRELIMINARY results - not final - the company has NEVER said otherwise, and I just spoke with them yesterday. You are letting inaccuracies flavour what you are posting. Would you risk hundreds of thousands of dollars on a drill program with incomplete info? I don't think so. Wise, I think. Experienced, I think.
NOT has lost ALL kinds of value in their share price and is continuing a high burn rate to produce results that have had NO positive effect on their share price in this bear market. Probe is conserving their treasury until they have the best info at their disposal to conduct a drill program or make further decisions. Wise, I think. Experienced, I think.
If that means we have to wait for a winter drill program all the better I say. The junior resource market is still crap, tax loss season is coming up - it won't get better before the new year. Markets still extremely volatile and could still get worse globally. At least in the new year, I am hoping the markets will have recovered by then and significant news will actually have a lasting impact. Maybe at that time, the chromite deposits which geophysics and Mungall say extend well on to our properties, will also actually be recognized by the market and Probe will pursue that as well. Wise, I think. Experienced, I think.
Waiting to see what happened at the NOT AGM - wise I think. Get to know who you are dealing with and see what direction they are going to go before you deal with them. Wise, I think. Experienced, I think.
This company is very well-positioned when many others are not. They are extremely well-financed to pick up on some of the many outstanding properties that will be coming available with the shortage of funding dollars - need I remind you that the last financing was done at .75 well above the trading level at the time? Not so with a few other companies that I could mention. Wise, I think. Experienced, I think.
Whether you like it or not, we ARE in a waiting game. In my view, they are proceeding exactly as they should, in a prudent, conservative manner as is rightly dictated by the current state of the markets. Rushing to do anything - JV's, drilling programs, etc, in this ecomonic climate would be a complete breach of their fiduciary duty to shareholders.
I am sure the company hates to be in a postion where they are trading below their cash value - but at least they have cash and don't spend it recklessly. At least they have excellent prospects. At least they will survive!! Many won't. This is a buying opportunity for investors who did not get in before or for present shareholders to average down.
I think you are letting your overall frustrations with your positions and the market in general get the better of you and colour your interpretations of the facts - not always acurately, especially in this case. JMHO