GREY:LBEFF - Post by User
Comment by
JohnEStromJron Jul 30, 2009 12:32pm
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Post# 16178847
RE: News Release
RE: News ReleaseBuxom1,
You see borrowing another $4.5 million as a bit of good news? The only good news in all of this is for Jilin Jien. Jilin Jien will be in a position to foreclose on all Liberty Mines assets and that during the next year shareholders get to pay 8% to them. They already control WAY over 80% of the company so taking it private or "repossessing" it is up to them.
Did you notice the price spike of this stock due to that "good news"?
A question for all those ardent supporters of this company and Gary Nash's management. Why borrow not enough money to pay those debts you HAD to pay but not enough also to put the company back in operation? And in the process sell controlling interest in Liberty Mines for that "not enough money"? Again, the ONLY ones who made out on this are the Chinese - and perhaps a small number of insiders such as Randall and Nash. Not impressed but hey, in one year if we don't pay that money back they can just take it over.