RAS2173QUEBEC33 wrote:
* "It is not a claim, it is a fact."
* OK, I admit that my choice of words was poor.
* Bottomline: I am incensed by the fact that I was sucked in this scam by many false, misleading, and fraudulent comments uttered by the corporate officers.
* I've followed their collective narrative very closely since mid-July of 2016, when I got on board.
* Do their statements surpass a reasonable standard or test of criminal fraud?
* I think they do,
* What say you?
* BTW, did you see this? - As was disclosed in the Company’s news releases dated March 3, 2017 February 4, 2016, the Company’s decision regarding production at the Kaintantu Gold Mine was not based on a feasibility study demonstrating economic and technical viability and, as a result, there is increased uncertainty and multiple technical and economic risks that are associated with this decision. These risks include areas that are analyzed in detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy, and a number of specialized studies in areas such as mining and recovery methods and environmental and community impacts. In addition, there are certain specific risks associated with the Kaintantu Gold Mine (as described in the Technical Report) including, but not limited to, inadequate water access and access to power. Project failure may adversely impact K92 and future profitability. As such, K92 cautions the reader that where projects are put into production without first establishing mineral reserves, as opposed to mineral resources, supported by a technical report and completing a feasibility study such projects have historically had a higher risk of economic or technical failure.
https://www.k92mining.com/2017/05/k92-is-pleased-to-provide-a-production-update-on-the-kainantu-gold-mine-for-the-march-quarter-of-2017/
* And did you see this? - As at March 31, 2017, the Company had a cumulative deficit of $29,113,124, working capital deficit of $8,250,402 and cash and cash equivalents of $2,768,248. The Company will require additional funds to commence full commercial mining operations at Irumafimpa, to fund and maintain general and administrative expenses over the coming year and to settle current liabilities when they fall due. There can be no assurance that adequate additional financing will be available at terms acceptable to the Company or at all, which may cast significant doubt on the Company’s ability to continue as a going concern.
When the Company exhausts or abandons a mining property or an exploration site, it is required to undertake certain reclamation and closure procedures under the terms of the legislation enacted by the Government of Papua New Guinea. https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00030617
* WHAT A SCAM! GIVEN A CHOICE, I WILL NOT STAND FOR IT.