Post by
helpline88 on Jun 19, 2023 1:23pm
No go
We are half way through another year and not a hint of any move forward. This is going on to Steve Dean's 13th year of no increase in shareholder value.
The past several years the insiders of this company have been financing the company by way of convertible debentures that pay 8% interest. Most of the money raised in the financings are paid back to the insiders by way of this interest. Very little of this money is actually use to move the project forward.
The company has for many years been been saying they are looking for a strategic partner. I was wondering if the Company had used some of the money raise through the convertible debenutures to complete the environmental work on the project, would it had been a lot easier to attract a strategic partner. I would think knowing the enviromental work had been completed would take away the uncertainty of the project and make it easier for the strategic partner to commit. If I understand correctly the environmental work will take a couple of years to complete so it would have been nice to had this dealt with. But the insiders don't seem to be interested. They like their high interest.
Any comments would be welcome.