I was curious if anyone had any insight or thoughts about East Asia Minerals (EAS.V). I have a stake in this company and have observed a massive decline in share price over the last 6 months from $8 USD to 96 cents. It seems that they still have a massive desposit at the Miwah project in Indonesia and I have not seen any evidence of changes in ore deposits that would lead to such dramatic stock decline. They have had recent management change as well as some delays at Miwah project related to envirornmental impact studies mandated by Indonesian govt that certainly explains some decline in share price but not 80% of share value.
I found this stock due to Eric Sprott liking it and it seeming like an interesting play in Asia.
Does anyone have any insights why it has been so slammed, and if it seems like a good miner to consider adding in to?
Any insights would be appreciated.
Investors were disappointed with the pea. The forestry permit issue has come back to the forefront and van eck dropped it from gdxj forcing them to try and sell millions of shares. As a consolation you have about A .40/sh divie coming soon.
Don't feel too bad I bought it all the way down. Worth holding though as they do have 3moz of easy gold with potential.
The Forestry thing is now their main focus and if they get a permit the stock will heat up. If not Good luck