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.
