Too many companies on the TSX V, just float and spin tires for years at a time , with volumes of under 3k a day, this asset has had ample time to show its ability to be past the stage of zero volumes and above 7 cents and be what they call a sleeper. The drill program has done little and maybe management is doing well with what they have , but this asset is slowly drying up even for the pumpers
Since 2008 it has had little movement on the share price with the exception of one or two short lived spikes and if you got in any time above the 10 cent marks you had to average down and hope and be patient to sell to break even. I am sure some got lucky, but a great majority have lost
I learn a huge lesson, look at who are the insiders of an asset and see how the money gets drawn to the asset over time , most of all when quality drill reports come about and see what entrys people get involved....When I saw Pinetree get in at 6/7 it placed a value in my eyes as being safe, but nothing followed that and Sheldon sold out just as fast as he got in
in this case LMR has had just one major insider with dozens of small entries that very from a few hundred to a few thousand and this goes back for the last 5 years.
So to those who are pumping, why has LMR not been able to attract anyone other then Pinetree who left the building at first asking? Why has it not been able to get financial support from anyone or is it just an inside secret to the pumpers that this is a giant in time that nobody in BC is aware about?
I would rather be safe and see a major player be involved, before I make another entry in this asset and I would not mind paying a premium for that, but till then buying above a 5 cents is HIGH RISK based on the history of volume and share price.
If it does go back to 2-4 cents its worths some cash as it has a bit better then avage between 2-4 cents, but even at those low prices it had zero volume days ,