Messina Minerals Inc MMIPF

RE: RE: RE: RE: 9 years

[kazaa]

A terrible time and no reason for this roll back proposal. The company announced late last yeat that a new resource will be calculated. I purchased this stock last summer when my broker told me about the financing and who was behind the company. Further due dilgence showed that almost $20 million was spent on exploration and that this group is related to Ethos Capital who is part of the Cardero Group of Companies. Ethos is exploring the Yukon which I thought at the beginning of the year would be full of new discoveries. The 2012 results in the Yukon aren't great but this group raised over $20 million for Ethos so they have the ability to finance their ventures. To summarize. The company has drill results pending, a new resource pending, base metal market improving, $20 million spent on past exploration and is well connected to the financial community. Everything looked great until 2 PM yesterday.

Now they propose a 10 for 1 consolidation. Why? The only reason I can think of for this unnecessary move is to position new people and themselves which comes at the expense of the shareholder. Peter Tallman is the largest shareholder on the board so I don't think he will be diluting his position. I bet he will be a big placee in the next financing which IMHO will be lower then yesterday's close. 

This is a typical Vancouver promoter style restructuring of the stock. The assets are there and only 60 million shares. I don't have a big position to hang around so I am out next week. This will trade below 5 cents. 

Not sure if management knows what's right and wrong. This is just greed.

Good job Peter!!!!!