hi, warmy - here's the interesting part: as others have posted here, medina is basically jaime gomez, right? and jaime is the guy who connected jorge cedeño to SIRG management. maybe michel rowland on the BoD had a hand in it, too.
sunburst got their mine back, so they are paid off, and the only remaining creditor, medina, gets nothing if SIRG doesn't put a deal together.
will it be with OROT, or one of the many other gigantic ecuadoran mining operations we could choose from? frankly, i think jorge would be foolish to say "no", but even if he did, he's not the only game in town.
and if jorge's really smart he'll play hard to get until the last minute, then his lawyer will have him sign on the dotted line, and finally they can all put together a fantastic ecuadoran mining roll-up.
sure, we might see them delay, delay, delay. we might notice a few 1,000 share bid taps while retail gets bored. the effective float will dwindle to nothing.
so... given all the incentives for success... i like the odds... in our quiet little stock.
SIRG!!!!!
The case wasn't "thrown out" per se. It was dismissed and ruled as a SARE. In this situation, a company (SIRG) has two options...
(1) make payments to their creditors. or (2) present a plan to recover (the OROT buyout / merger).
I think they are going with option 2. Who knows?
May turn out to be nothing but could be a good lotto play around these prices.
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