Post by
petersburggray on Sep 13, 2013 8:13am
Martin Hale business re*****tion?
In my opinion, Martin Hale has done extreme damage to his business re*****tion with his ill advised legal action against USC, re*****tional damage that far outweighs the potential value of Crescent mine. No one wants to do business with a loan shark like Martin Hale now because as a borrower you have to always look over your shoulder to watch for when he will stick a knife in your back for his own personal profit. Look how quick USA replaced Hale's loan. Hale reminds me of the dancing bankers in Mary Poppins who sing "first and second mortgages, think of the foreclosures." Even if New york court give hale control of Crescent mine, all hale got in that scenario is all of nothing. In my opinion hale would make more money long term by continuing to convert PIK interest to USC equity as he did in past, and be part of something big, rather than being greedy and trying to eat the whole cake all by himself. Even after several years of drilling, even if Hale found economic silver ore shallow in Crescent, where is he going to mill it and refine it? Likely best silver is deep in Crescent and to get to that silver, hale needs to dewater Crescent, but Crescent is connected underground to Bunker Hill mine so to dewater crescent Hale also must also dewater bunker hill mine and bunker hill is a huge active EPA superfund site still requiring remediation.