Club Mulgoa

Wednesday, November 05, 2014

Going cheap...

I took this line just to illustrate...

Metals X has bought the Meekatharra gold operations from Reed Resources for $9.9m. Some $117m has been spent on Meekatharra in the past.


This is a clever opportunist but these opportunists are now having to compete with other vultures.  Desperate and poorly managed stocks with great assets and exploration records are plentiful.  It takes an adventurous soul to venture in but vultures can be hardy and brave.  Markets never stay down permanently so if the vulture has enough food on the side, these extra morsels make very nice meals later on.

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