Tuesday, October 5, 2010

Accountability to shareholders rant

As with most investors I've been closely following the rare earths scene, after all there are some big gains (and some losses) to be made from the sector.  This has involved a lot of googling and investigation into which companies may have rare earths projects that have been mothballed or simply forgotten about by the market.

I came across 3D Resources (DDD) and their website about two weeks ago.  I was interested by the quote that "3D Resources Limited (3D Resources) is a minerals explorer targeting high value commodities (gold, copper, lead, zinc and nickel) and “future metals” (platinum, palladium, molybdenum, uranium and rare earth metals) in Western Australia."  I started trawling through information on their website, announcements and reports but didn't really have any success in finding anything out.

I recommend shareholders and potential shareholders to contact any company should they have any questions or queries as after all the board (directors) are accountable to their shareholders, yes they work for us.  Whilst directors will not be able to provide any sensitive information that has not already been releaseed to the market they quite often hint or use innuendo to communicate when drilling results may be due etc.  I decided to email DDD and two weeks later, no response!  Not very good PR especially considering it "is our policy that all emails sent to 3D Resources Limited at the above email address will be replied to within 8 business hours of being received."  Directors need to remember that their wages decrease the general funds available for shareholders and owners of the company.  I understand that quite often the directors are very busy people but for a company of this size that hasnt completed any works on their existing projects for some time and every quarterly activities reports released states that 'we are evaluating our projects and JV partners' over and over you wouldnt think it would be too difficult responding to an email.

If anyone has any details of the rare earths projects (if any) of this company I would definitely be interested to hear from you.  DDD last traded at $0.032 yesterday (04/10/2010).

No comments:

Post a Comment