Anvil,
Who is your source for the low grade deposit evaluation? Was this a judgement made before or after the October 11 shareholder meeting? They have not publicly released any gold reports or assay reports, and never said anything like this at that meeting. If, in fact, the current ground is inadequate they should have told us that at the meeting. Instead, we were told everything had come together so they would immediately begin full production. Their last Facebook posting changed the story and said they were not in full production but instead were in testing mode. If they were still collecting samples before checking its value, then how could they tell someone it was a "low grade deposit"? I'm not accusing you of anything improper. I'm just trying to figure out what appears to be contradictory information from the company. If I am misunderstanding what you are saying, please correct me.
If they need money to fix the equipment again, then that begs the question of why the equipment has kept failing to operate any significant number of hours for the last couple of years.
Maybe there is no gold there.
Maybe the equipment has always been inadequate to recover gold.
Maybe the gold and equipment are fine and the operators aren't capable of making the operation run tight.
Maybe there is no money because investors won't put in money until the operators, equipment, and managers operate the plant long enough to prove the concept.
All four of these situations would the responsibility of the Dun Glen President and Contractor to assess and put right. They've had over two years to do so.
My concern is with the value of my URHG shares. For this to increase, URHG must rely on its subsidiary Dun Glen to give the parent company full and accurate reports (so URHG can accurately inform shareholders like me). It also has to rely on Dun Glen management to keep accurate accounting records of its own (and I assume to share those with URHG). Finally, Dun Glen mgt has to make Dun Glen produce gold. I don't think these are unreasonable expectations.
