RE:RE:RE:RE:Very Poor Judgment On Managements Part. They've added additional stakes partnered 50/50 with Crest, but are otherwise the same company they were yesterday.
You are exactly right.
Definitely some of the selling is due to the deal, some due to drop in gold today, some due to traders.
The deal raises questions? Prior to the deal the company is all about high grade gold resources as well as the surrounding area in which recent drilling activity has provided some eye opening resource facts. The PB hill property is an unknown. Then the references in the NR of non pm mining and references to less than 1/g/t is definitely not worth speaking about.
From comments here and there, the negatives question the character/integrity of certain individuals and the fact that Michael Collins is head of both Crest Resources and Exploits. Christopher Huggins is VP of Crest Resources and a Director on the Board of Exploits. Are they doing whats best for the companies or themselves? Is this a sweetheart deal? Is this going to impact the present focus/plans/funding?
I cannot answer those questions myself. But I can refer to the fact that Eric Sprott and Newfoundland Gold just 3 weeks ago upped their investments in Exploits to 26% and 19%. I find it hard to believe they did not know of this transaction before it was announced. Sprott does his own due diligence in property and managment before investing. If management was an issue would he increase his investment?
Is this a tempest in a teapot?
I'm fine with my investment.
GLTY!