More of The sleazy takeover bull. I wish people would stop quoting Dykes about drills in Mexico. Bottom line is Dykes hated the drill company and anything related to McClay's concept of how to drill the properties. McClay sent the very used equipment to Mexico and kept the best equipment in US for contracting and drilling company's own properties. Dykes sold all the equipment at giveaway prices including all the real estate and any of the mining properties the company had accumulated under McClay. He got Ext to nothing and in some cases like the company plane he got nothing. He gave it away to a guy who help spread dirt on Mcclay. Trouble is with no drills, there has been no drilling since he took over.
All the above doesn't really matter in the long term if there was a proper re-evaluation done on the CuMo Deposit. Dykes will not accept that his evaluation is technical nonsense and he had no concept of how moly OS marketed and how one is paid for it. The Chinese partner realized this and bailed and the BCSC realized it also and ordered a new report. The appointed engineering firm saw the same flaws and obviously have a much more negative evaluation that Dykes would not agree with and here we are, stuck on stupid.
the travesty is that many like me got locked into the stock and know that the deposit has unique characteristics that are obviously not economic at the present prices but surely a legitimate evaluation can be generated to give the shareholders the real truth. I have talked to all the main players of this saga and this has led to the above conclusions.
What to do about it? Not. Much as the regulators don't care now the Stock is suspended; it is like it never existed. Dykes doesn't seem to care as he owns the company for all practical purposes and takes whatever money there is as his personal fortune. The creditors? Who knows what they think as it probably wasn't their money so they won't throw good money after bad. The whole mess is a complete travesty, almost as bad as the sleazy takeover of the Company.