Wednesday, January 14, 2015 11:40:14 AM
Prediction was insignificant or no revenues. Result: Revenues $0.00.
Prediction more debt. Result: Net income -$1.28M.
Prediction no discussion of operational results. Let's take a look...
14-Sep-2014 CEO Corner Website musing announces VLF survey was performed on the Stairs project. Did Duncan discuss the results anywhere in the 10K? Nope. All he said was $45K was spend, and TRII is obligated to spend another $245K by Jun 2015. More debt.
21-Sep-2014 Initial assay result announced. 05-Dec-2014 final assay result announced. Did Duncan discuss the results in the 10K? Give guidance on potential future revenues based on the results? Gee, he sort of forgot to even mention a redo on the previous assay had been performed. No need to dicuss or give guidance, if it's never mentioned. No, the end report date of 30-Sep-14 wouldn't prevent him from reporting it in the subsequent event section.
No discussion on how far along the mill is towards completion. Only a brief passage it needs more equipment. Where equipment is undefined.
Now what the latest news on the pending Ontario fines, and Duncan's private company Canamet's progress in resolving the environmental problem (i.e. never has been explained or defined)?
Well Duncan was the problem successfully resolved by 31-Jul-14? What happened!? Apparently Duncan wants SHs to just guess. Or did he forget to update the cut&paste? Here's one fair non guess: No new permits from Ontario until it's taken care of.
Then there was the previous problem of garnishments against TRII due to Duncan's other nefarious business activities. Is it true microcap CEOs who have garnishments against them, are just the best penny CEOs in the world? Wonder if the status of that has changed any?
Nope. Returnable in fiscal year 2015? Not going to tell the SHs the month?
There was one new item Duncan mentioned. But he never gave any details or discussion about it.
The 10K didn't surprise or disappoint. It was exactly as expected. Discussion skewed to derivative accounting, and accumulating debt for SHs. Exciting eh? Total lack of discussion for operational results or guidance. Well, there's always the 8 month old pictures on the website to look at... for the next year.
The Jewel of the Mind is Colored with the Hue of what it Imagines
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