AMK FritzedThese guys are riding the bomb down like Dr. Strangelove. Nothing much in the way of exploration over the past 10 months but they're still drawing $600k in salaries annually. They won't give that up.
Latest financials show them $1,000,000 plus in the hole plus an unspecified amount owing to the shareholders who lost out on their flow-through deduction because AMK management decided that money ($3.2 million) had to go to administration (read salaries and whatnot) rather than exploration. That liability will be at least another $1 million and should be coming due soon. They can only delay it so long.
They say they are suing their lawyer for bad advice. But AMK is headed by a lawyer. What lawyer doesn't know that you can't take flow-through money and spend it on administration??
So, effectively these guys are $2million in the hole right now and still they either take or accrue these exorbitant salaries. And they wonder why they're in the position they're in? Give me a break.
And I got news for you fellows who think that Treaty Creek is going to save them. Treaty Creek will not save them. If there was something there they would have raised the $300k necessary to drill a few more holes. Anyone can raise $300K. They sold more than $300k worth of stock and could have reinvested that, but they didn't. Think about it.
All you guys who think that what Seabridge and Silver Standard are proving up is great should go back and look at the grades and the location.
Grades are much too low and the location is horrendous. You need Eskay Creek type grades to make a go of it in that country. Sorry, that's just how it is. Yeah, Seabridge has a feasibility study but so did Galore Creek and that one didn't turn out so hot, did it?