Every why hath a wherefore

It’s from Alturas Minerals (ALT.v), but…

…you can take this CEO’s comment section from the ALT.v NR today and insert it neatly into the public declarations of dozens of other explorecos. Just change the names.

“As with many junior mining companies, Alturas is currently going through a tight cash position and does not have sufficient funds to continue its exploration operations in the normal course. However it maintains positive expectations and is in the process of seeking to secure sufficient additional capital to maintain its existing property holdings until the industry downward cycle recovers. Alturas also remains very optimistic with respect to the mineral potential of its projects and is evaluating alternative plans for exploration. We are currently having conversations with various mining companies and private investors that are strongly interested in a joint venture partnership to develop these and other projects from our high-quality property portfolio in Peru and Chile.”

Let’s check the boxes, shall we?
  • Tight cash position
  • Positive expectations
  • Very optimistic
  • Alternative plans
  • Joint venture partnership
  • High-quality property portfolio

The suicide note continues here. In the specific case of ALT.v, its 132m shares out and 3c share price mean that these promising properties (which have been picked over for years without any of that promise turning into something greater) plus precisely fuck all in the treasury chest is somehow worth $3.3m in market cap.
The sooner these companies are out of business and the jokers running them leave the sector, the better for all of us.

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