Captains log day 20 in the red we its hard being right. Captains log, day 20 in the red and the fall is accelerating, we have just breached the 40s as predicted.
Things are beginning to look rather dire as even the ardent pumpers have fallen silent their litany of fake facts sounding hollow to even their ears. It is crazy to think only a few years ago under a different name we were producing gold turning a small profit and sitting at 3 cents per share with $250 million in debt…. then came the buyout from FM, the selling off of the mine to clear the debt plus a few million in the bank.
The buyer immediately refinanced the mines debt to around $50 million making it a profitable acquisition…… if only FM could have done the same. Now here we sit, debt free, superior management at the helm, part owners of a mineral water company, proud holders of a mining license on one of the best mines in the world……. and we are sitting at below 2.5 cents. So some how FM managed to make a debt free company with a mining license worth less than a small producer $250 mill in debt…..
Yes things are looking dire however there is a single silver lining and a little red herring. They did higher an exceptional take over lawyer which does hint that things may be happening, and they did extend the warrants on what I assume is black iron and their other subsidiary. So something may be in the works… Lets see if they defend the high 40s or keep letting this fall.