A management fee playThis company is simply operating to generate fees to management. Mason has a very small interest in the company from a stock perspective, but he has been charging a success fee for the money raising activities. With so much stock out their and warrants in the sub-25 cent range, all the shareholders will be left sitting with little or no stock gains for a long-long time. This is the down side to a junior mining player like GLD. It becomes a management cash grab at our expense.
You have to ask yourself why did so many people vote against the Management slate of director. I heard that Management only won by 4 million shares. And that was only possible as a result of Augen Capital loosing its board to Mason.
The property use to have great potential, unfortunately, it will be another stock blower for most of us suckers.