Resource Capital Gold Corp GDPEF

Sad State of Affairs

[3wood]

I find it very ironic that the best we can do in talking about GL and their prospects is discuss the way we talk to each other. This company is now once again a 30 something cent stock and there is no surprise and very little outrage in the investor group at the situation. We all know there are two very distinct camps among the investors - those that think the mgmt group is trustworthy and competent and will eventually ensure the investors are rewarded with a financial gain and those that believe the mgmt group are self serving and arrogent and MIGHT be able to optain a offer that allows investors to recoup some of their losses. We all have had our own unique experiences with mgmt and there isn't much point elaborating why each of us fall in the different camps and there is painfully little information distributed by mgmt so for entertainment purposes we might as well as well throw out some speculative predictions and see who comes closest to reality. I'm already on record as saying I doubt there will be any positive devolopments before Thanksgiving - I'll add to that a little. We won't see the whole drill program results till then, I do believe we'll see 141 prior to that but we won't see that specific hole before mid August and when it is released the results will not be outstanding in any way. I think the only major ( really a mid major ) interested in the property is BVN and that they will eventually make a bid ( probably around mid Nov ) but due to a lack of competitive interest their bid will only be $1.75 ( much less than they MIGHT have offered previouslly ). I think that by the time BVN makes an offer the overall markets would have experienced a correction if not a collapse which will limit mgmt's access to refinancing funds. As far as refinancing goes, I expect there will be another small one at 25 cents accessable only to insiders.  In the end the only ones that really will make any money are the insiders and those that invested near the end of the story - the long term investors with a much higher average cost will get some of their money back and a significant tax loss credit. It is truely a sad state of affairs but thats how I see if shaking out - I have no intention of selling my shares; if I had any money available or confidence in mgmt to deliver even this bleak disappointing result I would buy more shares at this level but I just don't have enough faith in mgmt to put any more money on the table. Good luck guys and have a good day.