OTCPK:BMTNF - Post by User
Comment by
k9guyon Mar 17, 2006 1:50am
72 Views
Post# 10513120
RE: Saudis turn to gold March 13 - 2006
RE: Saudis turn to gold March 13 - 2006I am with JT on this one. It sounds like there is possibly some financial trouble ahead. I don't have much left of this one and I think what i do have could be far better off elsewhere.
Good luck
----------Original Message Posted 3/16/06----------
Dude, this board is so quiet 'cause MMR has 'bin around the track one too many times. Do you know their history? Check out their latest financial statements. They just wrote down $44,772,341 worth of their resource properties. Essentially all of the book value of their PNG property. That's the result of 10 years and $40,000,000 worth of "work".
Not sure if the Buffalo shareholders follow MMR, but you'd think the write down would pique their interest. I'd like to hear the Company explain the write down. The only time I've seen mining companies write down a property is when they've walked. How can you promote the merits of a property that you've just said is worthless on your books? I'm no accountant, but I don't think this is good. It is however consistent with what MMR shareholders have endured over the last 2-3 years.
JT