Golden, it seems to me that there are two possibilities here.
1.
There is no gold; management knew, and decided to make what they could by implying that there's a very good possibility that Deer Trail could be lucrative investment while their cohorts loaned them money and sold the stock short.
2.
There IS viable ore, and the reverse split will make make current shares virtually worthless while management can accept a cheap buyout and then own the company themselves without having to compaensate shareholders.
I read bybob's post quite thoroughly. No evidence of viable ore lends itself to Option 1. If viable ore IS there, then they've stayed mum about it to discourage big money interest so that they can avail themselves of Option 2.
How many years ago did they say they needed to rework the mill? How long ago did they hire Behre-Dolbear for a report that's never surfaced? How long have they been taking samples without announcing the results? Exactly what new data has come to light in the last two years? They spent a full year building a mill, and so far no reason to believe there's anything to put through the mill.
oops.. we have results.. pictures. All those loans afforded them a digital camera. My favorite pic is the truck in the distance carrying "stuff". Yep, if that didn't make Barrick and Newmont nervous about competition, I don't know what would, yessirree billybob.
My distaste is for myself, falling for this. They either scammed us by continually implying that that this was a viable mining investment, or they scammed us into investing so that they could raise money and then buy the company on the cheap.
I don't think I'm missing anything. Tell me, do you honestly see any chance of youo breaking even on this stock?
