Post by
jsnfernley on Feb 09, 2022 1:26am
Eternal Optimism
You just have to love the eternal optimism of some of the usual suspects.
Production (oil) is down 55% from its peak in Q4 FY2020 and sinking like a rock thrown in a deep lake, meanwhile your management gave itself a nice raise and a nice bonus in 2021.
It doesn't appear to be looking for world class projects anymore, it just cashes 4 checks a year for which it charges a major premium to administer.
While the company's project, a related party cast off they acquired from a related company after being told by the authorities to acquire something or else, is two tiny claims with what might at best be nothing more than a satellite deposit that, due to its elevation, can only be mined for several months out of the year.
After revising the 43-101 report, which not surprisingly, changed nothing substantial in the amount of resources, was probably only prepared because the claims would lapse on 9/30/21 without any work to use for credits with the BC government (or else they would have to pay 2x the required assessment work to keep). It's so bad they can't even tell us what the strip ratio is.