The Dickson gang that can't shoot straightAs an owner of Queenstake, caught with the bag to date, I was on Yahoo and very much opposed to the merger. At that time, I made it clear that, having carefully researched the Dickson gang, that they're primarily people who make a career floating stock, raising capital, and did not then, and do not now, really know how to operate a successful mine. Hence, they've not executed their plan, have actually allowed Queenstake to come to a grinding halt, to where we no longer have a viable producing mine. Ketza is a joke. Let's look at their "plan" moving forward, at which time I also said, "Don't hold your breath!" for Ketza to startup, at all, but the company stated:
The Company’s focus is on achieving production from the Ketza River Mine manto deposits and on the further exploration of the highly potential Shamrock Zone, both in the Yukon. The short term goals are to have a pre-feasibility study completed by the end of 2006; to make a positive mill decision in the second quarter of 2007; and to have a mine and mill in operation by late 2008, producing up to 140,000 ounces of gold per year. A 43-101 report on the Ketza property was completed in October 2005 with 756,700 ounces of gold in the measured and indicated categories and 1,054,400 ounces of gold in the inferred category. An updated 43-101 is in preparation at the moment. The Company is well financed with no debt and well able to take the Ketza project into production.
By the way, has anybody seen the damned 43-101 that was going to be around 3M ounces, YET?!
I must say I was not prepared for the utter destruction of Queenstake as a producing mine of any merit, but this is really no surprise on hindsight, considering the nature of and dire incompetence of the new "management." This whole team is mining flimflam, promising pie-in-the-sky, and has not delivered, neither will they deliver, as they're in the business of selling stock to the unwitting and making careers of trying to be credible, just long enough to stuff their pockets full of money before retiring, leaving behind the ruins for investors. Do you realize they've so badly managed this company that you couldn't buy half a pizza, probably not a slice, for the value of each ounce of gold in the ground now? The market cap of this company is completely decimated, which is a vote of no confidence in the market, period. I wonder how all the private placement holders are feeling now? And the most pathetic thing I've seen is raising less than $1M for a nickel a share. Is this stock huckstering's "finest hour?" What a joke. What a destroyed mining company. Anybody who may have been on Yahoo, talking up the merger and Dickson stock mafia, care to lavish praise on "the team" now? Anybody want to call me a fool again, when I said these people don’t know how to run a successful mine? I’d really like to hear from some of you cheerleaders, before you go back to banging your head against the wall some more.