GREY:MHGPF - Post by User
Comment by
Caribbeanmanon Jun 08, 2015 1:48pm
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Post# 23807804
RE:RE:Is MGD dead?
RE:RE:Is MGD dead?Caribbeanman wrote: Does this mean the share buyback program is not going to happen?
A bit of sarcasm
MGD was effectively dead in the water roughly in the middle of summer 2012. They've been on life support ever since then. That was the point where they first couldn't start paying their debts and obligations. The funds raised to do the driling program ran out long before the drilling program was completed.
That and the POG tanking were the demise of the company.
How can they raise funds when a previous raise of funds wasn't used to the purposes intended? It sends a bad message to future lenders or finaniciers.
Penny stocks are very high risk and we take our chances. This is an example of how important it is to vette the management of a company before investing. Wekerlee was never management, only a large investor and likely with chump change according to his standards.