RE:Despite the doom and gloommartindale wrote: Presented here I am still somewhat positive, call me crazy if you like but, 1 Sonoro has met its requirements as obscured as they may be. To our knowledge. 2 the only thing we owe our partner is some shares, they can claim what they want but it has been very clearly demonstrated that they are and have been dealing in bad faith. 3 we didn’t get this opportunity after the budong kerrfukle cause they were handing out scraps.. this was supposed to be compensation of sorts, so I have to believe we will get something of value in leu. 4 our 25% has some value.. how much that’s for the pic manager or the courts to decide. 5 and lastly I am pretty sure despite however much money jimmy has the gov is not happy with him.. do we have enough goodwill/friends in the kitty to make a favorable decision? The contract if it’s solid enough might just give us a golden egg.. a status update would really be nice.. anyway I wish all stock holders the best and yes I have been quietly picking up a few more share in hopes that it will somehow work out.. got my average under .04. Either I will be out some thousands or I will be seen as a genius! I’m hoping to one day be called Einstein! Lol GLTA Invested!
Some rational and common sense for a change. Let me take it one step further. The company has 2 liabilities at the moment. First, the 25% stake of the $74 mil expenditure over 5 year commitment. This I think most would agree we can just walk away from. The second is the $1.6 mil owed to our "partner". Clearly, our 25% stake in Selat Panjang has at least the value of what we owe. But in any case, we are on the hook. The company has to inform the shareholders what they are doing regarding this debt which comes due on November 25. We obviously do not have the money, so lets play out the scenarios shall we? Company issues 19 million shares and we will immediately know this as our partner would then hold over 10% thus rendering them as an insider. This clearly would be a very positive. Whether our partner is pleased accepting the shares is another matter. Another scenario is that we tender our 25% stake and walk away. Now stop and think how improbably this would be. This is basically giving into blackmail. Do you think this is even remotely possible, that executives of a public company would do this and face liability from shareholders? No executive in the right mind would do this. We can lose our stake but management must fight to protect the interest of the company and shareholders. Nothing less and they're open to possible lawsuits. JMHO