RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Beaver Creek PresentationI shouldn't have used the word "concerned" about the dilution. It implies negativity and I'm far from negative on Mako. I'm a long term investor and recently increased my position by 30%.
The mining history of this property goes back to the 17th century and reads like a novel. Charles Butters, a famous geologist discovered this property in the 1920's and started mining Albino. He found 31 targets and was planning building a railroad to transport the ore from the targets to a central plant. Augusto Sandino started a revolution against the government and needed money. He forced Butters off the property and started mining to finance the revolution. The revolution was defeated and Sandino was killed. The new or subsequent socialist government closed the country to outside investment and the property stayed dormant until Golden Reign obtained the mining rights. I apologize if some of my facts aren't 100% accurate.
I blame the previous management for the dilution. They didn't promote the company, so they financed exploration with cheap shares. They could have put Albino in production and not wasted time exploring. We could have been at this point 5 years ago with a fraction of the shares. Rant off.
My source says the 31 target will be reduced to 7-9. The reduction will be caused by the merger of the targets into much larger deposits. IMHO this is going to be world class property. The only problem I have is I'm too old. I'll be in a nursing home long before this property is totally developed. I'm hoping San Albino will be a great success and we prove up huge resources and then we get bought out.