RE:dig, wash, shipNot sure who coined that mantra, but since 2008 RM was mining 1,000 - 2,000 tonnes
per month with annual revenues of $1.5 - $3.0 million. Our revenues in Q3 were what,
$15K? I know I'm going to get lambasted here for this, but my feeling is that Sentient
doesn't own enough of us yet and is bleeding us dry.
We currently own 23.87% of BMC. Once MLB is transferred, we'll own 32.5% with a
limited 6 month option to buy another 7% for $2.65 million. Where does that money
come from? I'm sure Sentient will gladly provide a convertible debenture at 20 cents a
share!
Sentient has put $4.07 million working capital into BMC. We have to ante up our pro rata
portion of that. Is it going to be 24%, 32.5% or 39.5%? Whatever the amount, our coffers
don't have that much, do they? I'm sure Sentient will gladly provide a convertible
debenture at 20 cents a share!
To me, it is painfully obvious that Sentient wants to keep our SP depressed until the
aforementioned get settled and maybe till the balance of this year's warrants expire.
There's a reason for the lack of effort to promote this stock. Sentient doesn't want to
do it right now! I'm sure just one phone call from Sentient to another big investor would
rocket us immediately. So far Sentient will own about 80% of everything, 60% of BMC
if we reach our 40% mark and 50% of us. Sentient sees an easy way to take the
ownership of us to 75%, thereby having 90% of the whole enchilada!
I'm not a believer in Sentient's altruism. They're a business and are out to maximize
their investments. All this can and will be done above board, by the rules, and there's
not a bloody thing we can do about it!!!
All this being said, fortunately we are still going to come out of this ahead. We will make
a pretty good return on our investment, but NOWHERE NEAR WHAT WE SHOULD
HAVE MADE! There, my rant for the day...