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You think it's a bullshit company with a blow-smoke-up-ass piece of moose pasture that should have been taken out and shot years ago? Honey Badger (TUF.v) doesn't care!

What with the metals now bottoming and a whole bunch of new crop investors turning up in the sector with more greed than fear in their eyes, IKN take it upon itself to show the neophytes an example of just the kind of bullshit story you people need to avoid like the veritable bubonic plague.

Honey Badger Explorations (TUF.v) is the name, and its NR today hits all the buttonsSo potential. Very metal. Honey Badger Doesn't Care says it's found an IOCG on its property...oh sorry, a POTENTIAL IOCG (beats me why the people optioning the property to TUF.v didn't notice it hanging around there before, they tend to be quite big and you would have thought ) with grab samples that have metal in the rock (phew! that was lucky, thought for a moment they wouldn't be able to find a grab sample with metal content) and geologist Dr Fayek (which happens to be an anagram of Fakey, but don't dwell on that) giving it the full geol-speak:
"The hematite-chlorite-carbonate mineral assemblage is (....) consistent with distal, low-temperature, shallow-late type alteration associated with deposits such as Olympic Dam". 
Mmmmmm, crunchy goodness*

So anyway, what they don't mention is that to earn its 75% of this new Olympic Dam, Honey Badger Doesn't Care needs to hand over $1.5m in cash to the option holders to begin with (as well as 6.75m shares), then another $1.5m in cash 18 months down the line. That's before the cash it'll need to develop the property, of course. 

At its last set of financials (3q13, Sep 30), TUF had 70.88m shares out, treasury of $324k (sadly that's not an M, it's a K) and a negative working capital of $319.4k. 

As the stock is currently a 2c stock, raising even that first $1.5m to pay the optioners (before any development cash, before the second payment, before its own corporate burn cash) means Honey Badger Doesn't Care will have to emit 75m shares...which is kind of dilutive dontchathink? Oh, but they didn't mention those things in its NR today, that's the type of detail you have to go look for in the regulatory filings, my fine and brand new shiny sector followers, friends and readers.

But in the end, hey I could be wrong. 

*And by way of a sidebar, when IOCG is the subject they always mention Olympic Dam...that comes in the sophomore year of your news release bullshit course, though.