The last time CGFI was at .67 was March 10, 2008. Since then, the mill has been under a "cease and desist" order, meaning it could not legally run. It goes without saying that a business that can't produce anything will not show a profit; it will not make money. So expecting it to maintain a price per share based on that level is unrealistic. In fact, the pps has been sub-penny since early June 2009.
Since then, CGFI has managed to acquire contracts for toll mining, negotiated leases for mining rights, and make marked advances in readying the mill for operation. This all while working under the intense scrutiny of the Colorado DRMS.
At this point in time, they have paid a substantial bond, on time, for securing the reopening of the mill. They have resolved over 80% (at last report) of the issues preventing the mill approval. The balance of the items are relatively minor and not insurmountable.
So if you are looking for a company to maintain a constant PPS over 3+ years under the same circumstances, then you have the wrong company.
If your looking for guaranteed returns on your investment, penny stocks are not for you. Consider a CD.
Anyone investing in a penny stock is taking a big risk. That risk is offset by the chances of great returns.
That is what CGFI offers, a potential for great returns.
The management of CGFI has done an outstanding job fighting to open this mill. Could they have performed better? Sure, no company is perfect. But they are getting the job done. They have not done all this work, clearly visible work, for a scam. Most of their compensation has been in stock. That means that if this company does not start up, if the value drops to zero, they get little or nothing. So, who is taking the bigger risk, them or us? Could you work for over 3 years without pay?
That, to me at least, is commitment, and that type of commitment is worth betting on!
