Guys we are not dealing with some nice people here. Notice the repeated threats here including from the proxy people that if we don't comply they will go into bankruptcy. I voted against the Clays because of it in a vote of no confidence. In the mean time if the stock goes any lower I am buying more of it. First, a ch. 13 bankruptcy would not be that bad for the mine. Ch 11 I think unlikely as since the Clay';s had a fiduciary responsibility to us they might have some legal problems with that one. The stockholders paid a lot more into the mine than they did. It leaves it operating and the Clay's not being able to collect their deb for a while. But the ploy has already worked and they will likely win their bet. Then because there are fewer shares the stock will have to rise so they can take in some money selling more stock. This means they will have to produce a little gold and it is about time.
Note that they are ramping up with a much larger crusher and upgraded leaching. I live a short way from the mine and also have worked in and out of gold mines for 35 years as I used to sell into Nevada mining companies. This mine is showing huge activity and they have no intention of shutting it down with bankruptcy because they are coming into gold. We have just not been told it in a nice way. Could they say hey "here's the good news" and I would have no animosity toward them, but no they are a bitch of a group. Their scare tactics worked and the stocks are way down, but vote no on the reverse split. It will make the stock go up slower and increases the risk of further drops. But if they win and they reverse split it, remember this that a light stock will bounce easier including upward at first because there is resistance to shares being sold cheaply when there are few shares.

You are welcome. I am doing this so the stock holders will stop giving their stock away and let the prices rise so we can recoup and make a profit. I expect with successive quarters now we should see improvements in profit for the mine. Nobody hauls that much rock for no reason and the stock is undervalued. Last I saw they were making gold for around $900 oz. so they are on track to meet their expectation of production cost when they get their leaching volume up and start seeing the gold after the 180 day delay. I would be very disappointed if we didn't see at least 25 c. stock within a couple of months and higher later. Richard

That's the rub. Ever since the Clay's announced their take over of the Queen the public stock holders have panicked. But as I read it the Clay's have taken over the half partner from Toronto in exchange for forgiving the debts. They paid a little under 50 million for this including the 4 million or so they had to pay based on some stock equity there at 3 cents a share.
In exchange there is now no debt for the company and the Clay's fully own 1/2 of the mine. The other half is owned by OTC traded stocks and they do not have the authority to force a sale at this time. The only way they could take our stocks would be to declare bankruptcy and go through the courts. The SEC might then have something to say about it considering that the same people who just took over the company also were running it. It would be considered insider trading.

Notice that while they have paid 50 million the total current value of the other half of the company is under 10 million based on stock prices. The stock should be going for 5 times what it is being traded for based on the panic. I was disturbed that they held back the 4th quarter report and a first quarter report is due in a few weeks. Look at the numbers.

The high grade ore takes up to 180 days to show gold extraction with the leeching. They mined 4.5 million tons of ore but are holding 1 million tons back containing at least 25,000 ounces of gold. I drove by it and their leach pad has grown huge over the last few months and they are processing and moving lots of ore. They have exposed a high wall that is est. 3/4 miles long. We are not getting the figures from the company but there is a lot of gold in process and lots more ready to process. This is not a bankrupt company but instead is ramping up and the balance sheet shows it with expenses in exposing ore and new trucks and drip upgrades. I am as long on this company as that longwall they have exposed of high grade ore. Richard

They had to keep the stock prices low or pay more. Remember there is the first quarter report due out in a little over a month. Then analyze the year end. Conclusion: ramping up and profit lag 1. Took top off mountain to access the high grade. Have identified new veins and gold grade good. 2. now making gold at 900 oz- and dropping. 2. Put in larger crusher. 3. Stockpiled 2 months ore not on leach pad. 4. Leaching takes at least 2 month to start seeing the higher gold rates so 4th quarter production still not on balance sheet. 4. Improving leach methods to treat more ore. 5. Bought 2 new trucks and new drill for 7 million and lost 7 million.

I'm long on this. Richard

i LIVE DOWN THE ROAD FROM THE QUEEN. THE PROBLEM WITH THE STOCK IS THAT PEOPLE HAVE PANICKED THE INVESTORS. NO ONE CAN JUST TAKE OUR STOCK AWAY AND THE MINE IS EXTREMELY ACTIVE. THEY ARE MOVING A LOT OF ORE AND HAVE OPENED A HUGE PUT AND ARE LEACHING A LOT OF ORE. NO ONE MOVES THAT MUCH DIRT FOR NOTHING. THE PLACE IS A GOLD MINE LITERALLY AND STOP GIVING YOUR STOCK AWAY. The clay's have their stock on the cheap and they paid 12 cents a share and it is worth more than that. RICHARD