RE: RE: RE: allmine it's over !!!= Elation Precox!Up and trading again, that's good
I saw a news item from Colorado and Booker made comments consistent with my own guess at what was going on.
Booker said that the Chapter 11 filing buys time, fortunately N.G. is on the rise again as well
You can also see that absolutely no protection was made for the Canadian Property of E.V.
Some people can rant about the company not making good choices, well actually the company made alot of excellent choices, the only unfortunate part is that by the time Booker got the reins the company was carrying too much debt and while a very sound plan was made to remedy that, the financial collapse intervened and the original plan to develop and prove a property for sale, thereby eliminating the debt, or greatly reducing it and making SME lean and mean, was foiled
And when I say the company was making good choices, I know in the past we were burned slightly by our own hedges, but the company was playing it safe and working on a model that guaranteed financial safety at the time, this time our hedges that were in the money were sold and produced over $9 million to apply against the debt, that's not chump change and a true example of where we were headed before world events took over
All the best