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"Currently estimated at more than $350 million, the road as proposed would run ... to the Yentna Mining District in the Alaska Range, where numerous mining companies including Nova Minerals are eying potentially lucrative deposits."
From the news story previously linked.
Okay, so no answer. Thanks. Truth is, there is no possible answer that could put an honest positive spin on management secretly dumping 21 million shares just before a reverse split and massive dilution.
The nonsense about selling them to WNP and/or BD (likely the same folks) being peddled here and elsewhere is laughable on its face. Not to mention if it actually did happen and somehow meant good news, management would have no reason to keep it from shareholders.
Riiiiiight. Because those patents have proven to be soooooo valuable.
“Current shareholders” won’t want to miss out on a single cent of that big-bucks action. Well, except maybe for the ones who understand basic math.
Do you understand the legal concept of “engagement”, as it applies to PJ’s original stated role with the company? It’s sort of the equivalent of a retainer. It has nothing to do with an actual partnership, despite best efforts to spin it that way and con honest retail shareholders into believing big things were in the works.
Do you think if makes sense that PJ would get involved at any other level, then sit idly by while the company is devalued to near death?
Related, do you think “hearing from” WNP only in their role as creditor, after 18 months of being viciously devalued by creditors, is the same as “hearing from” WNP as an alleged builder of a commercial plant?
Lastly, I’m still waiting to hear from anyone about how management discreetly dumping 21 million shares is an indicator that honest retail shareholders should not dump.
Here's a different, more detailed version of the road permit story.
https://www.adn.com/alaska-news/mat-su/2022/05/27/as-federal-permit-review-starts-on-road-into-west-susitna-backcountry-public-access-remains-priority/
This post is total, reality-defying BS. WNP did not purchase those shares. They got them as payment for loans previously issued.
They also filed the legally required Schedule 13 D three weeks late. No surprise no one wants to talk about that either.
#SwirlingTheDrain
Is it a positive or negative, in your estimation, that Eves and Nearly might stay on? What do you think their role would be?
I won't hold my breath waiting for an explanation that makes sense.
Do you mean the design plans that were promised to honest retail shareholders by the end of 2017? Those plans that have never been talked about since? Are those the plans you think are suddenly about to be revealed?
Why do you think management secretly dumped 21 million shares? Do you think it was in anticipation of WNP’s imminent rollout of commercialization?
LMAO
Whatever. My biggest statement about WNP is that they’ll never build anything. They are a debt collector. Nothing more.
Do you really think splitting semantic hairs with me is more relevant than calling out WNP’s obvious lies about building a commercial plant and having it up and running by the end of 2019? What about WNP’s “financed through commercialization” bullshit?
But sure, Cartman offered a faulty opinion. Everyone should definitely buy buy buy.
Unbelievable.
You know what else is interesting? What might be coming out of Ventrillion, Jindal, Good Coal LLC, and the Mongolians.
Maybe all those vaporized “deals” the company has dishonestly hyped over the years are all going to suddenly close together. It could totally happen. Right?
Maybe I’ll buy a bunch more shares now. They might be really hard to come by after the huge demand that always follows reverse split and massive dilution in the pink sheets.
That’s how markets work, right?
LMAO. PJ is long gone. And I would argue vigorously that there is zero evidence to indicate commercialization is near.
Or maybe you think inability to get financing and management secretly dumping millions and millions of shares is normal behavior for a company on the verge of anything.
“Looks like we'll have to suffer through the dilution which appears included in the established plan.”
Nothing “apparent” about it. It’s spelled out in the 10-k. It’s also been obvious for at least the last 18 months to any unemotional investors with eyes wide open.
But now those who denied RS was coming think they have all the answers now. Probably just a coincidence they’re avoiding at all costs discussion of those 21 million shares management dumped.
Major dilution is required to move forward anyway. Read the 10–K. Noteholders need their pound of flesh, remember? How many millions of dollars is it?
“Major” is a generous descriptor. I’d say “massive” is more accurate. But sure. Hold right to those shares. I’m sure all the amazing things anyone thinks is coming to shareholders afterward will more than make up for all the dilution.
Right? Right??? Didn’t it happen that way last time?
LMAO
Do you think any of that “well thought out” nonsense changes the truth of 21 million-plus shares dumped by management?
Do you think management did all that dumping because they believe WNP is going to turn things around for the company?
Well thought out except for all the actual facts he conveniently ignored.
Remember when WNP was touted as funding the company "through commercialization"? Remember when we were told we'd see WNP's plan for a commercial plant by the end of 2017? Remember when we were told WNP would have a commercial plant up and running by the end of 2019?
All BS.
But sure, they're totally above board now and should be trusted completely, right? Anyone who believes that deserves to lose more money.
Environmental review for proposed road to Nova prospect gets green light.
https://www.aidea.org/Portals/0/PressReleases/West%20Su%20404%20Permit%20PR%20final.pdf?ver=snbzsD_L7jPkWsr7DnxOBA%3d%3d
“Sometimes a company just deserves to die.”
Yep. A strong argument could be made that this company deserved to die before the last RS. All these years and compounded failures later, it’s a no-brainer.
Good post.
“What a freaking mess.”
Totally. I couldn’t agree more. Twenty-one million shares secretly dumped by management tells everyone everything they need to know about what comes next for this dishonestly run PoS company.
Well, I guess that management covertly dumping 21 million shares ahead of a reverse split and massive dilution is the exact opposite of improving conditions.
Why do you think management dumped more than 21 million shares under cover of no Form 4s and a very late-filed 10-K?
“If the technology were such a game changer we'd have people lining up to help fund. Instead we have a 100:1 rs.”
Yep. We’d also have management who didn’t just covertly dump 21 million-plus shares between them.
Makes me wonder how much dumping insiders like Tacho M. Sandoval have done alongside them.
But now that all that dumping is done, and the PPS has been pounded to near death, James_E’s solution is for honest retail shareholders to hold and get devalued further, just to keep the PPS from going any lower now.
Of course, that will make it much easier for the same dishonest scumbags to continue profiting after the split, as they continue to dilute gullible retail shareholders who see no agenda in his reality-denying posts.
On target.
And even if the quote is accurate, it’s meaningless at this point because it continues to avoid the VERIFIABLE REALITY OF MANAGEMENT DUMPING MILLIONS AND MILLIONS OF SHARES.
Give it up. Whatever anyone sells for now will be of considerably greater value than their shares after the split. Basic math.
The stock price is where it is because of the tens of millions of shares already dumped covertly by our dishonest management team, and likely by insiders, too. All without a single Form 4 being filed. It is laughable nonsense to continue to push the BS that the share price is artificially low.
It is clear you would rather continue to deflect with meaningless smokescreens than to acknowledge this. Eyes-wide-open investors don’t avoid the truth and what it means to the future of this miserable company.
If management has no confidence in the future, neither should honest retail investors. Vote no or abstain, unless you want this to continue.
And really, the only zone-flooding going on here is from the folks who continue to deflect from the math with ridiculous and meaningless ad hominem arguments.
The company has killed itself. Why do have such a fixation on deflecting from that?
Let’s say I own a million shares currently worth about $4,000. After dilution, which will be at least tenfold just to pay off noteholders, that same $4,000 turns into $400, or less.
Alternatively, I can sell now and claim my $4,000-ish, and still have $4,000 after the split and dilution to buy more shares if I foolishly believe good things are coming.
Anyone who holds will almost certainly never recover from the massive dilution that’s coming. Just like the idiots who held through the last split learned.
Sure, dude. Hold tight. Maybe even buy more. That’ll really show ‘em.
#MathDoesntLie
One more time, nice and slow …
Even if you believe that a post-split miracle is going to happen, you will be better off selling ahead of the split JUST LIKE MANAGEMENT HAS DONE and rebuying after the split.
People advocating for holding are ignoring the math. Yes, your shares will be worth .40 instead of .004, but their total value will be the same because you will have way fewer shares. That’s before the massive dilution that management has already said will follow the split.
It is hard for me to believe that anyone seriously does not understand this, which makes motives for advocating otherwise to be very suspect, in my opinion.
Retail shareholders have already been given the shaft by these deeply dishonest, deeply self-serving scumbags.
One more time … Eves and Nearly both quietly dumped millions of shares. Is that what forward-looking execs who have confidence in their company do?
Seriously, it’s not even worth discussing. There’s only one reason management dumped, and it’s the same reason everyone should.
Do not listen to morons who don’t understand that it’s very easy to buy shares after selling them. Why would anyone willingly let themselves be massively devalued when they can sell ahead of the devaluation and buy back afterward?
Also, a compelling argument could be made that anyone still holding lacks common sense to begin with.
Exactly. That’s why it’s stupid to hold. You risk losing more whether they go BK or not. There is zero guarantee of revenue on the other side of the split. There is, however, a guarantee of massive dilution.
Do you understand the concept of selling now and buying back later? It’s not difficult.
Before you go calling others stupid, you should do the math, because it does not pencil out.
Even if you believe that they’re close and will actually try to do something that looks like progress, you’re better off selling now and buying back later.
Management dumped their own shares for a reason.
#StupidIsAsStupidDoes
It's been more than a month since the very late 10-K annual report was filed for 2021, and no one wants to talk about management's holdings? Remember the covertly filed "we might sell" reports months ago. Remember all the rosy, reality-denying posts about how Eves and Nearly would never sell?
The annual report from a year ago showed Eves holding 24,156,817 shares, and Neary holding 29,777,789 shares. The most recent annual report, filed way late, and only released once RS news was announced, shows Eves now holds 13,856,817 shares, and Neary holds 18,661,479 shares.
So the guys who dumped in secret, and couldn't be bothered with the obligatory Form 4 filing -- the same ones who have been lying and peddling bogus hype for years -- now want honest retail shareholders to hang tight, continue believing in the company that management doesn't even believe in, and wait for amazing progress and the usual untold riches on the other side of the reverse split and massive dilution?
Why, oh why, would anyone believe a word they say? Why would anyone grant them the opportunity to continue fleecing honest retail shareholders?
Seriously, anyone who holds and/or votes yes on the split, is delusional.
I remember those results! Those are the ones the much-praised Nearly said "exceeded expectations". Those are also the results that Nearly said he would share with shareholders.
On the other hand, on the scale of lies told by management and insiders over the years, these are pretty minor.
Still, let's call these "reasons 27 and 28 to vote no or abstain".
Remember the huge deal they made over that with all the pics and PRs, while the insider liars on this board hyped major progress and imminent riches?
But sure, let’s trust them now with a RS and massive dilution to further enrich those liars.