Post by
Hopeless1 on Jan 16, 2021 9:20am
No news are bad news!
The dredge was delivered at the end of 2020. It is not a sign that things are looking up. I guess it was paid by a letter of credit a long time ago. So delivery was a result of a long time ago purchase!!! In November 3 vacancies were filled. But again the company might have only replaced staff members. A fluctuation is only normal. What strikes me is, there are hardly any presentations on the internet to appeal to new potential investors.
It is not certain that BlueChemical will aquire a larger share of the company. They invested 24 million CAD years ago and since then it was not depreciated in their annual report 2019 but only listed as a none material investment in a joint venture with Benewood Ltd.
I think if Benewood or BlueChemical are not willing to commit more funds the company will go down the drain.
For the moment there is someone who props up the share price at 16,5cent in TRX and 10,5cent at the German stock market. So is there hope? Time is slowly running out. Sad!
Comment by
Bmw4ever1 on Jan 16, 2021 8:55pm
it is realy difficult what to make out of all this,,, is the intention to bankrupt the company and wipe all out, or build real one. or is the intention to use the dredge to start harvesting and earning income to pay off the contractor and so on and have some revenue. GLTA, we hope to have some news soon.,,,
Comment by
hebegb1111 on Jan 18, 2021 7:21pm
Has anyone tried to contact western for clarification/ direction?
Comment by
frostback on Jan 19, 2021 12:21pm
Anyone in the area drive by and see a dredge? is it possible to process sellable product be processed without a finished mill? Confirmation physical delivery of dredge would be an interesting development.