St-Georges Eco-Mining Corp C.SX

RE:RE:Gravitas

[kingmarcus2929]

bluesteele wrote:

Alpha, this thing is still in the preliminary stages. The financing is no where near completion. It's a total joke!  Also the $20 million was never actually committed, the parties had shown some apparent interest. This is a far cry from what we were told. i.e. "the $20 million debentures are fully subscribed, with only $200,000 backing out". There was no money it was just apparent interest. To me this looks like making false representation by the CEO in my opinion.

They literally had $2.3 million in the treasury in February from the warrants and Frank decided to go ahead and start blowing it by sponsoring PDAC parties? This was not a good use of investor capital and speaks to the mindset of the CEO. He simply doesn't care because he wanted to be a big shot at PDAC. It's important to note, the deal had collapsed at this point but yet Frank still felt compelled to party on the shareholders dime.

As for the capital structure of SX they have way too many irons in the fire, Iceland is a waste of time, the geology is too young and it's all wrong. And lets not forget the cost of doing business is off the charts in that country. I view Iceland as another company retreat where the boys can hang out and party in downtown Reykajvik for a couple weeks and blow the investors money. Conclusion SX needs to JV Iceland or dump it.

SX, needs to focus on prioritizing their Canadian assets down to one or two projects, i.e. Julie Nickel, and initiate some geophysics, followed up with some geochemistry to delinate new targets.

Frank is running SX, with 6 different projects on the go and none of them going anywhere. This is totally nonsensical and is totally unproductive, but then again if you're running a "lifestyle company" to collect a fat salary and you can get interest free loans from the BOD this is exactly what one would do.
 

The only joke is you Bluesteele.  Sell and move on.  You clearly dont understand!  Anyone who listens to these  types will regret it.  So sad