YNG BOD Dickson & CFOAs this was collapsing in late July and early August I too got the line of bull from Nicole. I thouhgt it was absurd that Graham or some mangement in Vancouver was blaming the miners for what was being mined at Jerritt. That is rock and low-grade ore. Well, what was mangement doing during this time ? Evidently not managing the property !
Then comes the panic when the financing of $30 million previously announced fail through. The Thursday afternoon of closing the mine. Then the closing of the mine. PANIC does not show leadership or mangement. This is what Dickie did. No viable concern could just fire the staff at Jerritt without notice. Obviously Graham knows this is not a going concern or the man had a break down !
When it was learned Friday night from local Elko news sources that the mine property was wide open, and equipment going out the gate I took action. I tried calling Vancouver to no effect. Then I started caliing board members. What sane business manager leaves a property the size of Jerritt wide open ? I did not get a return call from any of them. I did speak to the wife of the general counsel early Saturday morning. Told her the calamity at Jerritt. She would tell her husband who was still in bed. I never heard from him either.
The closing of the mill, if it was permitted, was an idiot idea. This was the last source of income. Nicole had some lame story for the mill and contract operators. Bunk!
The CFO bailed early while he could. Smart. Any insiders buying on the way down ? Any buying at these LOW prices ?
Just not any reason, other than speculation to buy this. If speculating is the game, there are likely better plays at Woodbine !
Caddo