Core Gold DMMIF

I was talking bankruptcy in December

[AlfTanner]

I foolishly lost money on this scam.  And I do think it qualifies as a scam because of the number of lies we were told by management.

Remember all the talk about the excellent grades?  Now we find out that those grades were in narrow veins that could not be mined.  When you include the extra rock that must be dug to get to the vein, the reported grades were a fantasy.  BTW, the same thing happened with Great Basin Gold at Burnstone.  Their grades were in a narrow reef that could not be mined without also mining a lot of waste rock.

There were some other lies that I consider disgraceful.  Remember the one about the 6 mining faces that would bring production up to 500 tpd?  How about the face to face lies that were told at PDAC to some of the honest and helpful posters on this board?

While this has been a stupid investment for me, I take some comfort in the fact that I saw the possibility of bankruptcy back in December.  Here are a couple of posts.

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AlfTanner
December 02, 2015 - 11:47 AM
 
Probability Of Bankruptcy = 46%
 
I do not know how this probability of bankruptcy is calculated, but I tend to agree with their number.  In fact, it might be a little optimistic.
https://www.macroaxis.com/invest/ratio/DMMIF--Probability-Of-Bankruptcy
 
So far, Dynasty has not been meeting their goals, and if they do not start meeting them soon, they will default on their loan.  Dynasty supposedly reached a major ore body over a year ago, but that seemed to fizzle out quickly, and they are back to digging more decline.  The throughput and grades have not been good.
 
Originally Q4 was going to be the turn around quarter, but the results for the first half of Q4 were disappointing.  Will Q1 be any better?  If it is not, Dynasty will probably run out of cash.
 
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AlfTanner
December 04, 2015 - 02:52 PM 107 Reads
 
RE:Call the company
 
londry, the shares are not "cheap" if the company ends up bankrupt.  Why do I need to call the company?  They already reported throughput and grades through Nov 15.  They were both horrible.  Has much changed in the last 2 weeks?
 
Sure they expect much better throughput and grades in Q1-16.  But they expected much better throughput and grades in Q4-15, and it did not happen.  Forecasts and expectations do not pay the bills.  What they need is RESULTS.
 
If this company continues to deliver the results that they delivered in Q3 and the first half of Q4, they WILL go bankrupt.  They are bleeding cash, and they have loans that are coming due.  They are in a serious cash crunch, and it will not just work itself out UNLESS they DELIVER RESULTS.