Elgin Mining Inc ELGMF

RE: RE: RE: What a disaster

[the_ocotillo]

Yea, I can't figure out why they want to inflict a liquidity crisis upon themselves. In 2011 Gold Ore was on sound financial footing, $22m of working capital, no debt, nice little profitable mine creating +$25m of annual "gross profit", under 90m shares outstanding.......seemed like the perfect time to do something for Gold Ore shareholders like start a dividend policy. Now all the nice things I liked about Gold Ore seemingly have been destroyed and they are just another "growth at all costs" mining company. Maybe it works out in the end, but to me the best chance is the Bjorkdal expansion forget about everything else for now. They should release new resource and reserve estimates for Bjorkdal in a couple weeks. The drilling results were encouraging, hopefully the new estimates will provide some needed good news.