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Earnest and Bewise hit the nail on the head. Company needs to give investors an update. This so called news blackout (I assume Howard,s term and not the company's term) needs to come to an end.
The only reason to be silent is if there is a delicate negotiation going on. How delicate could it be if it has been going on this long? I am referring 6 months since SmartWin fell apart in addition to six weeks since the line of credit was approved.
Nothing wrong with diluting the stock if it saves the company!
I hear third hand, that a lot is going on but it would be nice to know for real!
I wish there was a fort to hold down. Have a good vacation.
Malcolm, what are you doing?
In My Opinion - There is a time when entrepreneurs need to turn the company management over to individuals with the industry experience to take a company to the next level. I think that is good advise for this company. I though that would be the eventual result when Callaway was brought in.
In My Opinion - The slanderers are stating items as fact that are not true. EEGC still has options and opportunities. Time is a big issue. EEGC needs to act fast.
In My Opinion - The slanderers are working for a group or several groups wanting to take over the lease area. This unethical and dishonest behavior could lead to civil law suits if EEGC fails.
Malcolm. Get the job done so the slanderers efforts fail!
Sorry, sources dry up when I open my mouth. But I am not selling.
The slander by the people wanting the drill sights is still going strong. Hope the PR dispels the slander and hope MRT is not influenced by the slander.
IMO
I have heard from two sources we will have good news in the PR. Hope it is real. Need someting solid and no more fluff. IMO
The implications and rumors are we will get some real meat in this PR. You are right, if its more foam, the PPS will tank. IMO
Have a good day. Everyone else understood.
It could be worse. I look at the yahoo board a couple of times a week and then wonder why I wasted the time. Some of those posters are part of the group trying to take over the lease area and will post anything to slander the company. Sure there are significant problems, but the the truth is somewhere in between here and there. I still hold all my shares.
IF my source is correct. This buyer has never heard of IHub. (If he/she has heard of it he/she does not read it.)
Ignore the false Vince. It is part of the unethical and dishonest approach by the group that is trying to take over the lease area.
I am sure MB is working hard. My concern is there is a coordinated effort to sabotage the company by certain individuals that want to take over the lease areas. This may include slandering EEGC and MB in front of MRT.
My question is what are GSLM/EEGC/MB doing to defend themselves against the slander by those trying to take over the lease areas? Drilling would be the best answer. A PR would be nice.
Thus my words "Time however is critical".
Once again, this yapping is meaningless. If Hunt is wired the money they will return regardless of how much of the rig is where. Time however is critical.
I personally think you should be block for using Malcom's name because it is misleading and unethical!!!!!!!!!
Here is the bottom line: 1) Transfer money to Hunt for drilling. 2) Get new SEL or extend 13/98 (13/98 may or may not be able to be extended).
One or both needs to happen, then we have the potential of a good profit. If neither happens we loose and Malcolm looses.
All this yapping is meaningless. Decide what the odds of 1 or 2 happening and place your bet or take your money off the table. High risk bet. High potential return.
My money is on the table whether it is smart or not.
Sorry, this was not ment to be a response to Swede.
Another poster gave me some insight in a private conversation. Can't say anything more. Will be gone rest of day.
Who said the credit line was with a bank? I think Howard is correct. Whomever the credit line is with is unknown. It is probably not a bank.
In my long life I have noticed there are two types of people: Those that get things done and those that are getting ready to do something but never end up doing it.
Malcolm appears to be in the second group. Hope he changes.
I believe there is oil in Taz. But the games need to end and action start or we all loose, including MB.
I know this is the site of love and friendship. Yahoo is the site of hate and death. I just don't fit in either place.
I just want them to drill and have success.
Malcolm, You have burnt too many bridges. Turn the CEO position over to Callaway or someone like him that can get it done. You risk loosing everything.
Bad Joke!!! Should delete phony Malcolm
Have a good day!
Have a good day!
The MM have some very large sellers at .02. The MM are only doing their job, nothing more or less. As long as these sellers are there the stock will not move. The sellers could be Hunt, Smart Win, or even Citi selling MB shares to pay his loan with them.
Positive news is the only good thing. Either drilling or approval of a new SEL or an extension of SEL 13/98 which may or may not be able to be extended.
Somebody sold 800,000 +/- shares.
It's not rocket science.
Malcolm and all investors would be better served if Malcolm would turn over the CEO position to Callaway.
MRT would be more receptive to Callaway and with his contacts he can get the money to drill. It would take some dilution which appears to be what Malcolm is fighting.
Dilution is better then ZERO.
Malcolm, What can you do with $20 Billion you can't do with $5 Billion?
If you have the funds to drill, please drill. If you don't have the funds, finalize something and start drilling.
This maneuvering you are doing could back fire and you could end up with nothing.
Take the safe bet and go for the $5 Billion rather then taking the risk and end up with nothing.
Heraclitus, I hope you reconsider. This board needs more facts and less speculation.
A lender such as Smart Win not making the final payment and the world economic crisis could be "unforeseen circumstances".
The reason given for extension to other companies was the world economic crisis. EEGC/GSLM would fall in the same category. Nothing can be hurt by applying so why not?
SEL 13/98 can be extended. I checked my notes. About 2 months ago I spoke with someone at GSLM and was told the lease could be extended and they planned on filing an extension if needed. It is up to MRT if they grant or deny an extension. I am paraphrasing the conversation. I have been told by other sources, that extensions have been granted to other companies in Australia.
Seems like now is a good time to file.
I have heard in Australia some leases have been extended do world economic issues. I have heard from other sources leases could not be extended as you have pointed out.
I am old and ugly, but I have worked with companies in the past that have been in trouble and when the investors took actions things usually worked out. When investors sat on their hands things usually failed.
As I have stated before if MB gets the job done and is fair to the investors - FANTASTIC. I would love to eat crow.
But still, why hasn't an extension been filed on SEL 13/98?
The only asset this company has is SEL 13/98 and it appears they have not even tried to get an extension.
Has EEGC applied for an extension SEL 13/98? If not why not?