Originally Posted by
Chippie
Here is my experience with a miner called Monarch who from memory originally held the Mt Ida permit.
Sept 2007 purchased 25,000 MON shares for $9,028 (~36 cents per share). With an expectation they would be producing gold sometime soon.
Dec 2007 MON did share consolidation so I ended up with 8334 shares
Between 2010 and now the company changed names ownership to Swan to Eastern Gold Fields to Ora Banda Mining. Along with more share consolidations I ended up with 56 OBM shares (I did not sell any since my original purchase). Then I received $12 as part of the compulsory buy back for small holders since on only had 56 shares left.
So overall I lost $9K, and learned a lesson.
Not saying that OBM may not be about to turn things around. But be careful with promises from any small cap companies with promises of "soon to be producing gold". I am currently heavily into NTL so not sure if I need to be taking my own advice above :)