Bhang Inc BHNGF

RE: I have been hearing things

[GK52N106W]

a "NEW" feasibility study would indeed be the first feasibility study.

the economic viability of the 43-101 resource at pele's elliot lake project has not yet been demonstrated by a preliminary feasibility study. it was due to be released somewhere around Q2 08 but it got shelved next to the peanut butter.

project descriptions and preliminary assessments have been completed.
 
i don't have all of the exact numbers in front of me (cuz i've been insulating my kids tree house with useless pele press releases) but i think the cost per lb would have to drop by roughly 50% (using current spot price) and that would get the cost to somewhere around cigar lake - except eco ridge is lower grade - and the spot price has yet to magically rebound as predicted not so long ago.

pele is also out of cash with no revenue source.

diluting cannot be an option, and al shefsky refuses to manage cash stringently - approximately $45,000 a month goes to 2 employees - incredible.

with no cash, how do you continue to make progress - by giving up your revenue source and selling out your gold - its the only way to continue things like your environmental assessments and to keep SNC working for you - incredible.

if pele was on to something legitimate, there would be serious movement on the stock price. insiders and institutions would be buying - but they're not interested - neither technical or fundamental analysis allows for no one believing that al shefsky can actually be taken seriously.

if we could be hero's for just 1 day.