MOSS LAKE GOLD MINES LTD V.MOK

The Delay of the AGM

[imerc23]

Something is going on at MOK, I think.

Until now, this company has been very regular and predictable with the timing of its Annual General Meetings.  The last 10 AGM's have been held on these dates:

   June 26, 2003
   June 29, 2004
   June 22, 2005
   June 21, 2006
   June 29, 2007
   June 11, 2008
   June 23, 2009
   June 29, 2010
   June 21, 2011
   June 21, 2012

This year, the AGM was originally scheduled for June 20, 2013.  Then, without any explanation, it was cancelled, and it has not yet been re-scheduled.

Is it just a coincidence that the $2MM note, payable to Wesdome, has also been extended?  The note was originally due and payable on April 29, 2013.  On May 3, the note was extended by two months to June 29.  On June 28, it was mysteriously extended again, this time until September 29, 2013.

And evidently the PEA has also been delayed.  The MDA's which were issued on Apr 26/13 and again on May 13/13 both stated that the PEA would be issued in Q2 of 2013 -- in other words, to synchronize with the AGM and with the maturity of the note to Wesdome. Is it just a coincidence that the PEA has been delayed, the note has been extended, and the AGM has been postponed? I think not.  

I speculated in my earlier post on June 15 that Wesdome is planning to sell MOK and/or to buyout the minority shareholders.  I stand by that prediction, and I suggest that the AGM has been postponed because an important resolution will be presented to the minority shareholders -- but it's a business item that for some reason has been delayed, probably because it is linked to the numbers that will be found in the PEA.

Time will tell.

[silver300]

That is bad new, imerc. I paid dearly for my shares and held them for many years. I am a loyal shareholder and totally believe in the property. I hope you are wrong because we usually get screwed on those situations.

[imerc23]

Silver300 wrote "I hope you are wrong because we usually get screwed on those situations."  Yeah, its sadly all too common that the retail shareholders get shafted, especially in a bear market.  But I feel optimistic here, because even if Wesdome wanted to rip off the MOK's minority shareholders (which I honestly don't believe is their intention -- see below), I can'

[silver300]

I hope you are right, imerc23, but that is not how ECU, Orko, and Prodigy Gold played out for me. I feel we shareholders were 'screwed blue and tatooed'.