Resource Capital Gold Corp GDPEF

RE:RE:Today's NR - garbage response

[lmcbain]

Spoke with Nick today and was informed that while he happened to agree with the logic I presented for a 3-1 consolidation, that the group concensus within the company was that a 5-1 made the most sense to "achieve the capital structure desired" and how it applies to potential financing efforts going forward.

Additionally we spoke about the move to the TSX-V and I was told that "no matter how well the company's efforts to right the ship may be going, it is believed that assuring the company has an active lsiting, no matter what is paramount". 

I understand both of the above rationales and explanations; however, I look at the fact we are in a position to have to make these decisions as failures unto themselves. This company had a full TSX listing in good standing and there is NO excuse for being in a position where giving it up should be a solution. The same can be said for the consolidation; rolling back the quality shareholders this company has, who have stuck with it through everything that has happened, is a failure - the rollback is the result of a failure, not the answer to avoiding it. I also maintain that a 3-1 has advantages that can/should outweigh the negatives.

We'll see where everything settles out, but even if these moves have become necessary, they should not be looked at as positive, but as a reaction to errors already made.

Salut,
Leigh McBain