for SchiffI want to start by saying i am NOT a basher and will lose over $50k (US) if this goes belly-up. I was hoping to get your insight on a few things that are very concerning to me:
- looking at their cash on hand and burn rate, where are they getting the money for the 43-101? and why are they burning $400k a month. They will be out of cash by the end of the summer!
- from above, you'd think they will need another round of PP. the dilution doesn't bother me as much as the fact that their last PP didn't raise the amount they wanted (2 mil vs 3 mil, was i reading it wrong?)
- the arabs are the smart money, they will not overpay ESPECIALLY in this horrible market environment, you are being conservative with your $65 and oz estimate, but where is the pressure on them to buy this $70mil company for $260mil?
- the low grade gold they came up with in prior estimates, will a mine prove economically feasible?
- the lease is running out.
- the horrible management
I get excited when I read your estimates, but I feel there is still a lot of headwind against us.