Sutter Gold Mining Inc (SGM)

[cdma01]

You should definitely not be surprised.

I had posted quite a while back that the lenders were in the driver's seat...

Sutter had not yet been able to prove up much more reserves to support its share price. Add in the decline in the price of gold and you have a situation in which management could not do very much.

Debt did the Company in. You simply have as much debt as Sutter did with most of any projected future net income dedicated to servicing this debt instead of being able to drill more...