RE: ...and the plot thickens Well I suppose I should write this so that our anonymous director can issue another obsfucating correction, or arrogantly ignore all our pleas for information.
I have more than a few problems with this one:
(1) What just happened? And did what happened really happen? CIBC (house 79) sold 344,000, of which the first 36,000 was a cross, while it appeared an outright dump in that the last batch was @.08, Anonymous painted the tape to .095. Anonymous walked away with 85,000 cheapies on the day. My gut suggests Cannacord...was that you Eugene? And yes CIBC started this with a somewhat equal mass buy...since they bought at .11 and sold most at an average of .12 I'm impressed.
(2) The news (?) release is just plain stupid as ever. The least common denominator is the claim that they have not been able to secure a long-term contract with the mill that has been previously ....etc. This coupled with uncertainty about ..milling sufficient quantities of ore to cause cash restraints. In the result two possible solutions are proposed:
(a) outright sale of the property (read take it private).. and indeed where would the new owners mill the ore? No doubt the mill would love a distressed sale to buy it however its doubtful if that is in the offing.
(b) do more exploring on the property.."provided that additional financing can be secured (sic)" so this is where it hits the fan ...a dilution ploy. Does it not strike you as ludacris. "We can't sell our ore what will we do? "I know, lets sell more shares and see if we can find some more ore that we can't sell". Twice as stupid is good.
(3) If the root problem, and I doubt it, is that you can't get a contract negotiate, go elsewhere, if you need to refocuse the company's attention (it lost focus long ago) focus on that. After all it appears there is a market for copper and gold'