RE:RE:While We Wait - Part2 Why do YOU think the insiders should dump the valuable property? If you didn't read the last NR then let me post this excerpt from it:
"The net proceeds of the private placement will be used by the Company to establish a revised mine development plan, define and undertake a supplementary exploration
program on the Goldboro project for the purpose of establishing a revised Preliminary
Economic Analysis (PEA), define the scope of work needed for permitting and to update
the Environmental assessment and for working capital purposes."
The key key words i read are "to establish a revised mine development plan" ... "define" ... "for capital working purposes". ... this lat PP and the work it will allow, it's results and conclusions will be used to draw the real investments dearly needed to start building the necessary equipment (such as a mill) and to make last minutes maintenance repairs to existing mine and roads, and get certain permits.
The CFO of the company alone owns around 22M shares, so I suspect the total amount of shares owned by insiders is greater than 30M ... the compnay has been sitting on this mine since the late 80's and are only just now coming into their own. With gold about to break out in the coming years and mining/production costs expected to be below $700/oz, this mine is sure to be a winner in 2-3 years after all the mine development is fully completed and all systems are in full swing.
I always invest in plays wich are medium to long term rerurns, and this company, at this time definitly fall in this investment time category. But be reassured that this company is for real and the SP will reflect the insider's hard work as soon as next Spring.