Scorpion...BUK is as good as done!You might want to slam All in Idaho for the pumping, and frankly, I don't blame you...
Point is: We all have to take responsibility for our own investments. BUK went to $hit. If you bought in on a pump...that's your fault!
As for BUK rising from the ashes...Wake up and smell the coffee. All BUK investors believed in the Idaho property. Problem is...Davies made some rather questionable decision throughout the history of this company...(Ability to produce Durango, drilling Piper before decent cashflow was established...etc.) He saddled this company with a ton of debt. He has now left the company...So tell us, why would Ed leave if he though the prospects for negotiating a modified debt deal were good? Bridge has what $65 million in debt? The bank is either going to squeeze Bridge out and sell the assets or Bridge is going to have to dilute out so much that hitting 5 cents again is going to be like achieving a dream number...
Management has left the table....and that should be a big hint to all as Davies had a pretty good stake in the game...Plain and simple...He's given up...
Look at the cards dude...The games over! Take off your Rose colored glasses and move on...
T2