Southridge Enterprises Inc (SRGE)

[rbtree]

Very simple. BGL made a big mistake by building the mill without commissioning a new feasibility study--and, of course, getting involved with the very slimy MSJ and Barnett. There were problems with the locals that were probably at least in part their fault. Anyhow, as there are no proven reserves, the claims (old mine workings that would need major rehab) have minimal value, if any, especially given the current depressed gold and silver prices. Few majors are partnering or acquiring projects. In fact many mines are being shuttered.

Therefore, the CM and GC have little value. And the claim ownership is muddied with the ridiculous court case which seems to never get resolved. Ergo, even if SRGE longs were to ever get recompensed, which will never happen, imo, the amount would be a pittance.

May I also suggest doing some reading/research into how mine values are determined and calculated. You will then see that even a property with proven reserves and a full feasibility study typically does not bring nearly the compensation to the developing/selling/partnering party as many think. The very idea that these claims were worth a half billion $ is and will always be preposterous.